Google backed AWC smart grid project removes a major cost barrier to scaling up PVRE's ambitious Atlantic offshore wind plans.
LOS ANGELES, CA [WorldofRenewables.com]
Pavilion Energy Resources, Inc. (PINKSHEETS: PVRE). The Company is a 40% partner in a Joint Venture developing a New Jersey offshore wind farm which could connect via the Atlantic Wind Connection Grid, (AWC).
PVRE’s proposed 1,100 Megawatt offshore wind farm will be the first project to offer to join the exciting transmission opportunity of the AWC Grid, which needs wind farm developers participation.
The Google backed AWC smart grid project removes a major cost barrier to scaling up PVRE’s ambitious Atlantic offshore wind plans by enabling PVRE’s planned wind farm to be built for less.
PVRE’s project would be the largest offshore wind farm in America to date; the size of a nuclear power plant and generate approximately $500 million per year clean wind energy, enough to power 300,000 New Jersey Homes and much of Google’s data center needs.
New Jersey suffers has high priced electricity averaging 15 cents/kWh. This project could help ultimately reduce blackouts and lower power costs to consumers.
PVRE plans to use proprietary Accelerated Wind technology, which promises to dramatically lower offshore wind production costs from 12-14 cents/kWh to projected life-cycle costs of 5-8 cents/kWh, making offshore wind power cheaper than fossil fuels and thus help achieve Google’s objective of lowering renewable energy costs.