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Oilman T. Boone Pickens drops $2 billion on wind power

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It looks like wind power in the United States is getting a boost from a somewhat unexpected source, with billionaire oilman T. Boone Pickens recently announcing that he's spending $2 billion to build a 667 wind turbine-strong wind farm in Texas. That would translate to roughly 1,000 megawatts of electricity, or enough to power about 300,000 homes, but Pickens says that is only the start of what he has in mind. As he tells CNN, Pickens says he plans to expand the wind farm to a full 4,000 megawatts by 2015, which would likely make it the biggest wind farm in the world. What's more, in addition to pumping out electricity, the wind turbines would give a boost to the pocketbooks of anyone willing to put 'em on their property, with Pickens estimating that each turbine will generate about $20,000 a year in royalty income, although they apparently won't get electricity straight from the turbine in their backyard.

Read - CNN, "Billionaire oilman backs wind power"
Read - Reuters, "T. Boone Pickens orders 667 GE wind turbines"

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