Four Companies Team Up for $8B Green Energy Project in California

An increase in research investments and growth of markets has led to a significant rise in innovation in renewable energy technologies in recent years. Over the last decade, the number of patents issued for renewable energy has gone up sharply, according to a study by MIT and the Santa Fe Institute (SFI). The increase has been most dramatic in solar and wind energy technologies.

In line with the trends of a growing market opportunity and new technologies to support renewable energy, four energy companies have come together to work on an $8-billion plan to transmit electric power produced in Wyoming to Southern California through transmission lines. This will be done with the help of an innovative energy generation and storage system to be built in Utah.

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Image Credit: Flickr via s-ariga

Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.