T. Boone Pickens, a legend of the Texas oil industry, is planning a $10 billion wind energy project.
Pickens and his company Mesa Power plan to produce 4,000 megawatts of electricity via the vast wind farms. Mesa is expected to complete a contract for 2,700 wind turbines by May 2008. This investment is anticipated to produce the first 1,000 megawatts of electricity.
Although Pickens states that alternative energy profit margins are not equal to those of the oil and gas industry, he does expect a 25% margin on the energy produced by the wind power project.
"When I go into these markets, I expect to make money on them," Pickens said. "I don't expect to lose."
