Duke Energy (DUK) Expands Wind Energy Biz

Duke Energy (DUK) has signed a long term 20 year agreement to sell 99 MW (a single megawatt powers about 200 – 300 homes) from its new Wyoming wind farm to PacifiCorp.  Duke will begin building the wind farm early next year which will contain 66 wind turbines generating energy by late 09.  The output will serve customers in Wyoming, Utah, Idaho, Oregon, Washington and California.

Duke has also agreed to purchase 100 turbines from General Electric (GE) that will produce 150 MW of power at several US locations.  By the end of the year, Duke will have more than 500 MW of wind power generation projects in operation and 5000 MW in development.

“Today’s announcement strengthens our commitment to investing in wind energy beyond 2008,” says Wouter van Kempen, president of Duke Energy Generation Services

Duke Energy (DUK) is trading up 1.4% today and establishing strong support in the area around 17.

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