T. Boone Pickens invests in wind power

| Wednesday, May 21, 2008

A Texas billionaire who made his money in oil is now investing in wind power.

CNN reported that T. Boone Pickens is now sinking billions into a wind farm near Abilene, TX, which is expected to become the biggest such operation in the world. He has bought 667 turbines from General Electric.

Upon completion in seven years, the project is expected to include more than 2,500 turbines and to produce enough electricity to power 1.3 million homes, Pickens said.

“It will be about $8 billion in wind turbines and $2 billion in transmission (lines). It will probably be over $10 billion,” Pickens told CNBC.

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