Gas threat to wind farm growth
Galán's caution is a sign of the challenges still facing the US wind industry, which include uncertainty over the longer-term future of tax credits given the pressure on the federal budget, and generally weak electricity demand as the economy slowly emerges from recession.
May 23, 2011
by Ed Crooks
in The Financial Times
Construction of new wind farms in the US is set to decline next year because of competition from cheap natural gas for power generation, the country's largest developer of new wind power projects has said.
Ignacio Galán, chief executive of the Spanish energy group Iberdrola, said the rise in US shale gas production had transformed the country's energy industry, driving down gas and electricity prices. "Shale gas makes the production of electricity from other sources not attractive enough," he said.
Installations of new wind capacity in the US dropped from 10,000 megawatts in 2009 to 5,100MW last year. Mr Galán said... [continue via Web link]