JUNO BEACH, Fla. -- FPL Energy, LLC, a subsidiary of FPL Group (NYSE: FPL) said today that with a strong pipeline of projects in place, it expects its wind portfolio to exceed 4,000 megawatts, representing an investment of approximately $4 billion, by the end of 2006.
Through its subsidiaries, FPL Energy currently has 47 wind projects in operation in 15 states helping to meet the growing need for pollution-free electricity and providing new economic opportunities for local communities throughout the US.
Thus far in 2006, FPL Energy’s subsidiaries have about 760 megawatts of new wind projects that have either been completed or are expected to reach commercial operation by the end of the year. With the two-year extension of the federal wind production tax credit, a strong pipeline of wind projects and corresponding equipment contracts in place, FPL Energy expects to add 1,250 to 1,500 megawatts over the course of the 2006/2007 period.
“FPL Energy leads the way in the development, ownership and operation of clean, renewable wind energy,” said Mike O’Sullivan, senior vice president of development for FPL Energy. “Wind is a clean, renewable source of energy that emits no pollutants into the air or water, has a minimal impact on the land and contributes to the economic well-being of local communities all across the country. Wind power can and should play a larger role in reducing our dependence on foreign oil and helping the environment.”
In Pennsylvania, for instance, FPL Energy subsidiaries own five wind farms, with a capacity of 129 megawatts, capable of generating electricity for nearly 37,000 homes. In 2005, the wind farms offset generation emissions totaling about 174,000 tons of carbon dioxide; more than 1,200 tons of sulfur dioxide and approximately 300 tons of nitrogen oxide. In addition to the environmental benefits, FPL Energy said the five wind farms provided a cumulative economic impact to Pennsylvania of several million dollars in the form of state and local taxes, salaries, lease payments and locally purchased goods and services.
Nationwide, in 2005, FPL Energy's fleet of wind turbines generated nearly 7.3 million megawatt hours of electricity and offset approximately 4.9 million tons of carbon dioxide, more than 13,000 tons of sulfur dioxide and nearly 9,000 tons of nitrogen oxides. In addition, these same wind projects had tens of millions of dollars of direct economic impact in the form of lease payments, taxes, purchase of good and services and salaries.