Renewables attract Anschutz
billionaire's company plans to generate and transmit wind power.
By Andy Vuong
Wednesday, July 30, 2008
Anschutz (RJ Sangosti, The Denver Post)
billionaire investor Philip Anschutz is plugging into the
red-hot renewable-energy field, announcing plans to develop
multibillion-dollar wind-farm and transmission-line projects.
The Anschutz Corp. said Tuesday it has acquired the rights to a
proposed $3 billion, 3,000-megawatt transmission project that
will run from Wyoming to Southern California, Las
Phoenix. The 900-mile project will
carry power from a 2,000-megawatt wind farm Anschutz is
developing in Carbon County in south-central Wyoming.
One megawatt of wind generation can power 300 homes.
The renewable-energy development is the first for Anschutz, who
made his fortune in oil, gas, real estate, telecommunications
and other ventures.
"Anschutz has his roots in energy," said Jim Monaghan, a
spokesman for Anschutz. "It's just a natural thing for a
broad-based investment company that has roots in energy to be
invested in alternative sources of clean energy."
Another billionaire investor,
oilman T. Boone Pickens, this month called for the nation to
boost its wind-power generation from less than 2 percent to 20
percent over the next decade as part of a plan to cut dependence
on foreign oil.
"These projects were in play before we saw anything publicly
from Pickens," Monaghan said.
A large portion of the wind farm will be built on a ranch
Anschutz has owned for about 15 years, said Bill Miller, a
longtime executive with the Anschutz Corp., based in
The project will have to go through a permitting process with
the Bureau of Land Management because it crosses federal land.
That process is expected to take 24 months to 30 months, Miller
Construction of the wind farm could take two years to four years
after permitting is completed, he said. The wind farm will
span 100,000 acres and is being developed by Power Co. of
Wyoming, a company owned by Anschutz. The wind farm is
expected to cost billions of dollars, but Miller didn't provide
an estimate because of the fluctuating price of materials.
The permitting process for the transmission project could take
up to 36 months because it will cut across multiple states.
Anschutz acquired rights to the Transwest Express Transmission
Project from National Grid, a London- based transmission
and utility firm that has operations on the East Coast.
Andy Vuong: 303-954-1209 or