Oklahoma Boasts $4.6 Billion in Wind Power Projects, with More on Horizon

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Grand River Dam Authority (GRDA) (Vinita, Oklahoma) signed a power-purchase agreement with wind developer TradeWind Energy (Lenexa, Kansas) for the output of two windfarms in early development in the Osage and Garfield counties of Oklahoma. The facilities are designed for capacities of 136 MW and 99 MW. Construction is scheduled to begin next year, and completion is set for the end of 2015.

Also, Public Service Company of Oklahoma (AEP-PSO) (Tulsa, Oklahoma), a division of American Electric Power Company Inc. (NYSE:AEP) (Columbus, Ohio), reduced the price of its WindChoice program to encourage utility customers to include renewable wind power generation use in their electric bills.

Industrial Info is tracking 13 wind power projects in Oklahoma, valued at $4.6 billion in total investment value. Seven projects, valued at more than $2.8 billion, are scheduled to start construction before the end of 2015.

A study commissioned by The Wind Coalition (Austin, Texas) says that developers have invested more than $6 billion in the Oklahoma wind power industry during the past 10 years, creating more than 1,600 full-time jobs. Oklahoma ranks sixth in the U.S. in wind power, with 3,134 megawatts (MW) in installed capacity, according to the American Wind Energy Association (AWEA) (Washington, D.C.). Nearly 15% of the state's electricity is generated by wind.

Wind power produced 4.13% of U.S. electricity in 2013, enough to power 15.5 million homes, according to the Department of Energy's Energy Information Administration (EIA).

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