Lewis Hay III, chairman and CEO FPL Group Inc., says the company plans to invest $2 billion in wind energy in 2010, according to a report in the Wall Street Journal.
FPL runs Florida Light & Power and other power plants in 27 states. The company has developed $10 billion worth of wind power projects in the past several years.
Hay says the driving force behind increased investment in wind power is at the state level with renewable portfolio standards.
Transmission is another area of growth, according to Hay, citing the need to move power from renewable energy projects located in remote areas to those with large population.
‘The way we build and site transmission today is, frankly, a very antiquated, archaic process,’ he notes, adding that the federal government should site power lines in the same way that natural gas lines are sited.
SOURCE: Wall Street Journal
