Investing in Wind Energy
Socially Responsible and Fiscally Wise
By Linda Miller, published Jun 28, 2006
Published Content: 70 Total Views: 156,931 Favorited By: 3 CPs
• Natural gas costs about $65. per megawatt hour
• Coal costs about $55. per megawatt hour
• Wind costs about $45. per megawatt hour
Retrieved from http://www1.leg.wa.gov
According to the Department of Energy, harnessing wind power is the fastest growing technology in the world. Shares in wind energy related industries have grown to approximately double in five years. Corporations and blue chip organizations along with some institutional investors are lending stability and legitimacy to what was once thought of as fringy environmentalist dreams. General Electric bought Enron’s wind turbine manufacturing division in 2002 and nurtured the business to a $2 billion dollar sales figure for 2005. Citigroup Venture Capital invested an equity stake in India’s Suzion Energy Turbine manufacturing division. The Investor Network on Climate Risk has promised to invest $1 billion dollars in wind power along with other clean energy technologies this year. These markers indicate a confidence that the demand for wind power will grow over the next decade.
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Takeaways
- According to the DOE, harnessing wind power is the fastest growing technology in the world.
- There are ten major companies that control most of the wind turbine market.
- The two largest companies Vestas (VWS.CO) and Gamesa (GAM.MC) are very good long term investments.
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