DTE Energy Company
) announced that the construction of Thumb Wind Park in Huron and
Sanilac counties has been completed. Moreover, the wind park with
an electric generation capacity of 110 megawatt ("MW") has come
online and has started providing commercial operations.
The Thumb Wind Park project consists of 69 1.6-megawatt
General Electric Company
) wind turbines and is operated at Bloomfield, McKinley and Sigel
townships in Huron County, and Minden and Delaware townships in
Sanilac County. The wind project generates renewable energy that
can power 25,000 homes in Michigan.
Being a wind project, the project is eco-friendly and also
supports the state and the local economy. Located on 15,000 acres
of land, the project contributes to the area's economic
development through property tax payments. Moreover, it supports
the local economy by annual royalty payments to participating
landowners. During its construction period, the project employed
100 workers and post completion it employed 10 full-time workers
to operate and maintain the facility.
The completion of this project will bring DTE Energy's wind
investment to more than 700 megawatts of company-owned or
contracted projects. By 2015, the company expects to add
approximately 1,000 MW of renewable energy with its various wind
projects and solarcurrents program.
Another project that would add 110 MW to the company's renewable
energy portfolio is the Echo Wind Park in Huron County. The
project, operated on a 16,000 acres area, would incorporate 70
wind turbines of General Electric. The Echo Wind Park will be
constructed primarily in Chandler, Oliver, and McKinley townships
in Huron County by Barton Malow Company. This project is expected
to come online by December 31, 2013.
Apart from wind, solar energy would also bring renewable energy
to DTE's portfolio. Currently, the company is running a solar
energy pilot program that has a capacity of 22 MW. DTE Energy's
SolarCurrents Program makes solar energy more affordable for
customers and helps in meeting the state's renewable energy
The second phase of the SolarCurrents program will offer an
additional 2 megawatts of capacity over the next two years. The
first phase of the SolarCurrents program has approximately 600
solar energy projects with 5 MW of capacity. The company is
looking forward to begin the next phase.
Apart from helping the company in achieving its renewable energy
goals, sales of electricity would undoubtedly boosts the
company's top and bottom line.
Another utility company,
NRG Energy Inc.
) is also moving toward its renewable energy goals. Recently, NRG
Energy announced that its Avra Valley Generating Station, located
about 20 miles west of Tucson, Arizona has come online. Under a
20-year power purchase agreement, NRG Energy will supply the
solar power generated from this facility to Tucson Electric Power
("TEP"), a subsidiary of
UNS Energy Corporation
Detroit, Michigan-based DTE Energy is a holding company with
subsidiaries engaged in regulated and unregulated energy
businesses. Detroit Edison Company and Michigan Consolidated Gas
Company are its largest regulated subsidiaries.
Going forward, key growth driver for the company include its
stable and growing utilities and its complementary non-utility
businesses. The growth momentum will be maintained by beneficial
regulatory policies in Michigan, higher authorized rates for its
regulated business, growth opportunities in its un-regulated
businesses and an industry-high dividend yield. The company
presently retains a short-term Zacks #2 Rank (Buy) that
corresponds with our long-term Outperform recommendation on the
DTE ENERGY CO (DTE): Free Stock Analysis
GENL ELECTRIC (GE): Free Stock Analysis
NRG ENERGY INC (NRG): Free Stock Analysis
UNS ENERGY CORP (UNS): Free Stock Analysis
To read this article on Zacks.com click here.