Article

Round Rock to get wind turbine project

A major wind-energy production alliance is scheduled to be announced Monday in Round Rock, adding to the state's growing profile in the wind business. TECO-Westinghouse Motor Co., a leading manufacturer of electric motors and generators, will announce an alliance with a California company to produce wind turbine components at its Round Rock facility.

Alliance between TECO-Westinghouse and California firm will be announced Monday

A major wind-energy production alliance is scheduled to be announced Monday in Round Rock, adding to the state's growing profile in the wind business.

TECO-Westinghouse Motor Co., a leading manufacturer of electric motors and generators, will announce an alliance with a California company to produce wind turbine components at its Round Rock facility.

TECO-Westinghouse employs 300 people at its plant and said it could add 100 to 150 more workers, depending on the orders generated by its partner, Irvine, Calif.-based Composite Technology Corp.

The alliance is expected to substantially increase TECO-Westinghouse's annual revenue, which was $102.3 million last year, according to online financial site Hoovers.com.

Gov. Rick Perry said the announcement is good news because it will create more jobs in the Round Rock area and will solidify Texas' long-term position in the energy industry.

At a recent news conference with Perry, representatives of the wind industry said they were ready to invest $10 billion over the next five to seven years in wind projects in Texas, assuming the state has... more [truncated due to possible copyright]  

 Alliance between TECO-Westinghouse and California firm will be announced Monday

A major wind-energy production alliance is scheduled to be announced Monday in Round Rock, adding to the state's growing profile in the wind business.

TECO-Westinghouse Motor Co., a leading manufacturer of electric motors and generators, will announce an alliance with a California company to produce wind turbine components at its Round Rock facility.

TECO-Westinghouse employs 300 people at its plant and said it could add 100 to 150 more workers, depending on the orders generated by its partner, Irvine, Calif.-based Composite Technology Corp.

The alliance is expected to substantially increase TECO-Westinghouse's annual revenue, which was $102.3 million last year, according to online financial site Hoovers.com.

Gov. Rick Perry said the announcement is good news because it will create more jobs in the Round Rock area and will solidify Texas' long-term position in the energy industry.

At a recent news conference with Perry, representatives of the wind industry said they were ready to invest $10 billion over the next five to seven years in wind projects in Texas, assuming the state has the transmission capability to get that wind-generated energy to market.

"So this announcement by TECO-Westinghouse and Composite Technology ties in very nicely with that ongoing commitment by the private sector to renewable energy," Perry said through spokeswoman Kathy Walt. "It's further evidence that the private sector is committed to helping the state meet its growing energy needs, and it also furthers the diversification of energy production. . . "

Texas already has more wind-generation capacity than any other state.

Almost one-fourth of all wind power installed in the U.S. is in Texas, where it supplies more than 2 percent of the state's electric needs — enough to power more than 500,000 homes with clean energy, said Susan Williams Sloan, spokeswoman for the American Wind Energy Association, a trade group.

Nationwide, wind power is expected in 2006 to provide up to 20 percent of the new capacity installed in the country, making it the second-largest source of new power generation after new natural gas plants, according to the Energy Information Administration.

"This is a growing industry, and such an alliance can help build on Texas' position as a leader in wind power," Sloan said.

In 2005, the North American wind turbine market saw record growth, breaking the $3 billion barrier. The market is expected to more than double to just under $7.5 billion in 2010.

Two billion dollars worth of new wind-power projects are being installed in Texas during 2006 — more than the combined total of new power plant installations from all other sources (such as coal, natural gas and nuclear power).

" The more expertise we build in this technology, the more likely we have future opportunities to grow that technology and use in Texas," Sloan said.

Hsien-Chun Meng, the president of TECO-Westinghouse, said the alliance will be divided into two phases — manufacturing turbines and later providing supply-chain operations by coordinating manufacturing, wholesale and retail elements of the project.

TECO-Westinghouse is a subsidiary of Taiwan-based TECO Electric & Machinery Co. Ltd.

The company started as the Westinghouse Motor Co. in 1988, a joint venture between TECO and Westinghouse Electric. TECO acquired complete ownership of the company in 1995.

Composite Technology officials declined to comment on the alliance.

Composite Technology is a development-stage company that has mostly sold a special kind of cable for electric utility lines. Its shares trade on the bulletin board exchange for companies that don't meet the financial standards of major exchanges such as the Nasdaq National Market.

Composite Technology filed for Chapter 11 bankruptcy reorganization in May 2005, a process that was completed in November of that year. The company paid millions of dollars to creditors in cash and stock to resolve the bankruptcy.

In 2005, the company reported a loss of $40.1 million on $1 million in revenue, mostly due to resolving the bankruptcy and to accounting changes.

In June 2006 the company acquired EU Energy PLC, a British developer and manufacturer of wind energy turbines.

The company said in a regulatory filing in September that it has an "order backlog for our next generation (wind) turbines." In October, Composite Technology said it had signed an agreement to license wind turbine technology from GE Infrastructure International, a leading player in the wind turbine business.


Source: http://www.statesman.com/bu...

NOV 23 2006
http://www.windaction.org/posts/5916-round-rock-to-get-wind-turbine-project
back to top