PGCR is a 10% equity partner in a Consortium that recently lodged a high-level proposal with the Wisconsin State Government to develop a large wind power project on a 4,000-square-mile windswept area of Lake Michigan.
This project is of large enough scale as to provide substantial industrial and job growth in Chicago and Wisconsin.
The JV Applicants control a newly developed 20 MW floating wind turbine design that could make the Great Lakes Class 3 wind resources financially viable by accelerating the ambient average windflow from approximately 16 mph average speed to 30mph average at the turbine blade, thus increasing energy output by 400% per square ft of blade.
The Wisconsin, Lake Michigan clean power project would be completed in stages over a 25-year period, consisting of a number of connected wind-farms, each with 10,000 MW output.
The project’s capital cost is estimated at 1/4 of a nuclear, coal or conventional wind plant. The wind-fuel is free.
FINANCING: 30% of the capital cost of wind projects is currently available as a government grant. Renewable energy loan guarantees are also available.
This proposed wind power project would eventually add 50 GW+ of new clean power capacity to the Electricity Grid to power Chicago and Milwaukee homes and GM’s future electric vehicle fleet.
The additional wind energy proposed would allow Great Lakes region targeted C02 emissions reductions to be met at a lower allowance cost, saving consumers an estimated $3-$5 billion per year in future carbon taxes.