Fed should put balance sheet normalisation on "autopilot" - Harker
LONDON, June 27 Balance sheet normalisation should be put on "autopilot", Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday.
NEW YORK Oil investor T. Boone Pickens' Mesa Power LLP said on Thursday it ordered 667 wind turbines from General Electric Co as part of the $2 billion first phase of a planned Texas wind farm.
It said the turbine order was the world's largest for a single-site wind power development.
The 667 turbines are capable of generating 1,000 megawatts of electricity, enough to power more than 300,000 average U.S. homes, Mesa said in a release.
The four-phase Pampa Wind Project would be the world's largest wind energy generator, with more than 4,000 megawatts of electricity, enough for 1.3 million homes, when completed in 2014, Mesa said.
GE will deliver the 1.5-megawatt wind turbines in 2010 and 2011 to the site in the Texas Panhandle, which has been one of the fastest growing wind power producing regions in the nation over the past decade because of its strong, steady winds.
Upon completion, the Pampa project will grow to more than 2,500 turbines, Pickens said.
"It will be about $8 billion in wind turbines and $2 billion in transmission (lines). It will probably be over $10 billion," he told CNBC.
(Reporting by Matt Daily, editing by Gerald E. McCormick and Derek Caney)