The Southwestern Electric Power Co. hosted a luncheon unveiling their upcoming Wind Generation project Oct. 8.
The event was at the Marshall Economic Development Corporation and in partnership with the Greater Marshall Chamber of Commerce.
“Everything is moving to renewables,” said Vice President of External Affairs Brian Bond, “And they are moving much faster than even I was expecting.”
During the luncheon SWEPCO laid out its plan for three new wind energy projects with the goal of increasing the the percentage of wind energy used in the companies source mix from 9 percent to 26 percent in the next 10 years.
According to Bond this plan is in line with SWEPCO’s company goal of reducing their CO2 emissions by 80 percent by 2050.
The three wind projects, which will all be located in Oklahoma, will produce 810 mega watts of wind energy, which is enough to power 200,000 homes.
Bond said that the project will also save the consumer money, up to $2 billion, over the 30 year expected life of the equipment.
He explained that this will not close any coal plants, which Bond said he expected to run for the next 10 to 15 years.
However, he said that this is a way for the company to prepare for future regulations on renewable energy along with helping the environment and saving the consumer money.
This proposal does have the option for other states to purchase the extra energy generated if one or more states opts out of the projects.
“What I really want is for East Texas not to miss out on this opportunity,” Bond said.
The plan is expected to not be officially brought to city government until 2020.