ID: Pavilion Energy Resources and Partners Plan Wind Turbine Manufacturing Facility in Idaho
13 Sep, 2010
Pavilion Energy Resources is a 40% partner in a Joint Venture planning a new wind turbine manufacturing facility in Idaho to mass-produce proprietary 3-5 Megawatt accelerating wind turbines to fulfill an initial $100 million turbine order.
The Idaho wind farm developers have additional nearby wind farm developments planned, which they have indicated should result in additional follow-on orders for approximately $300 million worth of accelerator turbines. This further underpins the Idaho manufacturing business plan.
PVRE and partners have a similar manufacturing facility planned for Southern California, primarily to enable repowering of existing wind farms.
PVRE and its JV partners are also progressing their various long-term offshore wind power project proposals, which are of significant potential scale. The partners propose developing a JV with a US shipbuilder to develop and manufacture a larger 20MW accelerating turbine worth approximately $30 million apiece, both for PVRE's proposed offshore projects and for third-party offshore wind turbine customers. The US shipbuilding industry has significant spare production capacity and access to capital.
The move into accelerating turbine manufacturing means PVRE is now primed for explosive revenue growth.
PVRE's Accelerated Wind technology promises to dramatically lower wind production costs from 7-9 cents/kWh to projected life-cycle costs of 3-4 cents/kWh, finally making wind power cheaper than fossil fuels (coal-gas).