Mesa Power, a company run by well-known energy investor T. Boone Pickens, has ordered nearly 700 wind turbines from GE ( GE) as part of its plans for a giant wind farm in Texas. The company placed a $2 billion order for 667 turbines for the Pampa Wind Project, which will ultimately provide more than 4,000 megawatts of electricity, or enough for more than 1 million homes. The project will be completed in four phases. Mesa will start getting the turbines in 2010 and 2011. Pickens, who became rich in the fossil fuels game, has been interested in alternative energy for some time, and with oil prices hitting record highs above $125 a barrel, the audience for his message is growing. He is also an advocate for using natural gas as a transportation fuel. His Pickens Fuel Corp. is the predecessor company to Clean Energy ( CLNE), a provider of vehicular natural gas and a company at which he is a member of the board. Warren Buffett, the head of Berkshire Hathaway ( BRK.A) and another of the nation's wealthiest investors, has also been investing in wind.
Cramer: Buy Nat Gas Now, Wind in '09
Elsewhere in the wind space, Trinity Industries ( TRN), which has a division that makes structural wind towers, was up 4.1% at $36.53. Broadwind ( BWEN), a Bulletin Board stock, was adding 1.5% at $17.50. Kaydon ( KDN), a supplier of wind-turbine bearings and other products, was up 1.6%.