E.ON on Aug. 15 said it would invest $500 million in building a 440-megawatt (MW) onshore wind farm in South Texas.
The construction of the plant in Willacy, Cameron and Hidalgo counties will start at the end of the year.
In the company’s press release, the German energy firm added that it had already sold the subscription rights for 200 MW of the plant for 12 years to Austin Energy, the city’s community-owned electric utility.
At the Executive Oil Conference, XTO Energy’s president, Staale Gjervik, touted efficiency and scale as key drivers in ambitious Permian Basin plans.
Today’s featured Forty Under 40 honoree is Dustin Cabrera, one of the youngest vice presidents at Roth Capital Partners who today helps lead its energy investment banking department.
Companies that fracture wells are cutting workers and idling equipment.