U.S. utility commits to solar thermal
NEW YORK CITY, New York, US, October 1, 2007.
One of the largest generators of green power in the U.S. will invest US $2.4 billion to increase solar thermal energy output in the country, while reducing carbon emissions that contribute to global warming.
FPL Group and its subsidiaries, Florida Power & Light and FPL Energy, will invest $1.5 billion in new solar thermal generating facilities in Florida and California over the next seven years, starting with a project at FPL. It will also invest $500 million to create a smart network that will provide 4.5 million customers with enhanced energy management capabilities and will launch new products that could increase renewable energy resources by $400 million over the first five years of the program.
“These new investments, coupled with our recent announcement to invest an estimated $20 billion in new wind generation, demonstrate FPL Group’s continued commitment to improve the environment and reaffirm our leadership position among U.S. utilities to combat global warming,” explains chairman Lew Hay. “We at FPL Group are proud of our leadership position in clean energy and are pleased to take yet another step towards helping to reduce GHG emissions.”
Former president Bill Clinton announced the new commitments at the 2007 Clinton Global Initiative in New York.
One of the largest electric utilities in the country, FPL will build 300 MW of solar capacity in Florida using Ausra’s solar thermal technology. The facility will avoid 11 Mt of carbon emissions over a 20-year period.
FPL will start with construction of a 10 MW project and, subject to Ausra meeting agreed-upon cost and technical specifications, the utility will expand to a 300 MW facility. The utility would also need to obtain regulatory and related approvals.
In the other initiative, FPL Energy will launch a nation-wide renewable energy program early next year that will allow residential and business customers to take an active role in reducing GHG emissions and developing new sources of renewable energy. The project will generate revenues of $400 million during its first five years of operation, all of which will be used to develop new capacity in renewable energy.
Under the program, consumers will purchase products associated with Renewable Energy Credits generated by FPL Energy’s renewable energy facilities. Participants will be able to offset their own carbon footprints and the program will be supported by a national educational effort that will explain how green power products work and how purchasing them will reduce GHG emissions.
The new programs will build on FPL Group’s commitment to the environment, and represent important additions to the utility’s clean energy portfolio. FPL Energy owns and operates the world’s largest solar thermal fields, located in the Mojave Desert, and is the largest generator of wind power in the U.S. with 52 windfarms in 16 states.
In July, FPL Energy unveiled a $20 billion plan to triple its 4,500 MW wind capacity. The company expects to add between 8,000 and 10,000 MW of wind turbines by the end of 2012.
The Department of Energy says FPL is the national leader in energy conservation programs among U.S. electric utilities and the fourth-ranked leader in energy efficiency programs. Its 36,000 MW power portfolio has one of the lowest carbon emission rates in the country.
FPL Group, with annual revenues of $16 billion, operates in 26 states. Its principal subsidiary, Florida Power & Light, serves 4.5 million customer accounts in Florida.
|
