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Renewables fund award for Minnesota wind power project
1 January 2002
A Minnesota wind power project using turbines new to the US market has received a $900,000 award from Xcel Energy's state mandated Renewable Development Fund. Paul White of Project Resources Corporation (PRC) would not say what turbines he is considering, but did say his company will choose among several new designs being used in Europe. "We're hoping to use one of a couple of turbines used in Europe that have well proven designs, but also have new advantages or attributes," he says. He believes the turbines will improve the economics for wind projects in Minnesota. PRC and Xcel are planning several distributed projects in the state that will take advantage of a state incentive for projects under 2 MW. Using the state incentive, along with the federal production tax credit, if that is available next year, and the renewables fund award, White is "hoping to get the economics to work." PRC is a four-year old company that has worked with EnXco to develop projects in Minnesota and Colorado. The fund was created in May 1999 and recently made its first round of awards, totalling $9.782 million. Half was given to a hydro project, while the remaining funds went to farm methane producing projects, solar power projects, a wind turbine installed at a Minnesota school and the PRC project.
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