Dresser-Rand Group Joins $8 Billion Green Energy Initiative
On September 23, 2014, Dresser-Rand Group announced their involvement with a jointly proposed $8 Billion green energy initiative with the goal of bringing large amounts of clean electricity to Los Angeles. With an expected completion year of 2023, the project will require the construction of a wind farm in Wyoming, energy storage facilities in Utah, and a 525 mile electric transmission line that will connect the two sites. Costing $4 billion to build, own, and operate, the wind farm will be located 40 miles north of Cheyenne and will generate 2,100 megawatts of electricity.
The $1.5 Billion energy storage facility will feature four vertical caverns that can store 15,000 megawatt hours of electricity each. The remaining $2.6 billion in funds will go to the constructions of the 525 mile high voltage electric transmission line. It is estimated that the venture will generate an approximate of 9.2 million megawatt-hours which is more than double of the amount produced by the Hoover Dam. In addition to the two sites, a large underground energy storage facility will be able to serve approximately 1.2 million Los Angeles area homes, yielding 1,200 megawatts of electricity. Joining Dresser-Rand Group in the project are Pathfinder Renewable Wind Energy, Magnum Energy, and Duke-American Transmission Co.
Dresser-Rand Group, Inc. is a worldwide supplier of custom-engineered rotating equipment. Established in 1986, the company employs over 8,000 people and has met yearly revenues of over $3 billion. With a primary focus in the oil, gas, process, and power industries, the company has 14 manufacturing sites and over 73 sales offices worldwide.
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