Pickens Cuts Wind Turbine Order In Half

Billionaire oilman T. Boone Pickens is buying only about 300 wind turbines -- less than half of what he planned to order to build the world's largest wind farm in Texas.

DALLAS (AP) -- Oilman T. Boone Pickens said Wednesday he has cut in half an order for General Electric Co. wind turbines and plans to use the rest in other areas instead of Texas, where he once planned a massive wind farm.

Pickens, who heads the hedge fund BP Capital Management LP in Dallas, purchased 333 turbines from GE, which was about half his initial order of 687 turbines.

"We are pursuing projects in Minnesota and Canada to place a number of the 333 turbines," BP Capital spokesman Jay Rosser said in a statement.

Pickens' scrapped his plan for a 1,000-megawatt wind farm in West Texas last summer because of technical problems in getting power from the site to transmission facilities.

The oilman still believes the Texas project will be developed when transmission and other issues are resolved, Rosser said.

Shares of GE rose 11 cents to $16.88 in afternoon trading.

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