EarthEra Trust Amasses $18M for Renewable Energy Projects
“I was born with a plastic spoon in my mouth.”
You might recognize the opening line of “Substitute” by The Who. There’s no substitute for having money when it comes to pushing wind and solar development in the United States.
The concept of replacing fossil fuels with “free” alternative energy from the breeze and sun is great, but without money, it’s just a dream.
Here comes the silver spoon, a trust fund called EarthEra Renewable Energy Trust. It’s like having a rich dad.
The fund, run by NextEra Energy Resources, the largest wind and solar energy producer in the U.S., invests proceeds from renewable energy purchases by businesses and consumers into the construction of new wind and solar projects in the U.S.
So far, the trust has amassed $18 million from various corporate purchasers of renewable energy credits, including Sony, Office Depot and the University of Denver.
Speaking of Colorado, the first project to receive funding is the Northern Colorado Wind Facility in Logan County.
The new facility is expected to add up to 152 megawatts of capacity to the grid, adding to about 400 megawatts at the Peetz Table site, and be online by the end of 2009.
The award total apparently hasn’t been disclosed. But NextEra has signed a 25-year contract with Xcel Energy Inc. to build the big blades, and will be paid about $27 million in the first year of generation, reports the Denver Business Journal.
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May 20th, 2009 at 6:51 pm
I know that energy is a complex issue, and I think most people would be surprised to know that coal currently provides half of the country’s electricity, with some states getting up to 95 percent of their electricity from coal. In addition to providing the country with reliable domestic energy, coal also keeps Americans at work.
My team recently visited the Harriman Dispatching Center in Omaha, Neb., where 800 employees work around the clock to ensure the smooth operation of Union Pacific’s entire rail operation. Factuality Tour
May 21st, 2009 at 12:21 pm
@Monica,
coal keeps more Americans in hospital than it keeps at work, and has a lower yield per employee than clean energy.
May 25th, 2009 at 9:34 am
Have you picked your cave yet Jacob?
Coal will be around and in use for years to come. Your make believe numbers impress no one – except maybe for true greens who do not need to think!
May 27th, 2009 at 2:07 pm
Why does every post have to include the word America or Americans?
You don’t seem to realize that America is a continent far larger than your country or that this planet is not property of the US.
About energy, let’s see, you didn’t and won’t sign Kyoto, you have the largest and most inneficient fleet of automobiles in the solar system and you thrive on foreign resources obtained through violence and/or corruption. Now Obama comes and it’s cool to be green…
Let’s be honest. You’re good at making guns. Big ones. Use them on yourselves, give the rest of the world a break. I know you are doing that already, but take it to the next level. Really.