Huntington Bank (Nasdaq:HBAN) has installed a building-grade wind turbine at its Muskegon, Mich. offices - the bank's first renewable energy project and the site of study for possible future Huntington wind energy installations.
The 1 kW wind turbine is anticipated to produce at least 2,000 kWH of electricity annually for the local power grid. Huntington selected Muskegon for its wind energy pilot because of plentiful local wind resources averaging 14 miles per hour.
"This is one small but meaningful start to Huntington Bank's commitment to renewable energy usage," said Mark Thompson, Huntington's director of corporate operations and insurance. "Much of the Midwestern area we serve is an emerging corridor for wind energy production, and the wind energy supply industry. So it makes sense for Huntington to explore tapping into our region's wind power potential."
With routinely recorded wind gusts as high as 22 miles per hour, the strong winds off of Lake Michigan are expected to dramatically increase winter season electricity production at the Muskegon wind turbine site. Huntington's Muskegon offices provided a nearly 100-foot-high turbine installation point, a height at which wind speed is increased by 75 percent. In its first two weeks of production, Huntington's Muskegon turbine produced 70 kWH of electric power.
"Renewable energy will soon create much of the public power supply in the communities Huntington calls home," said Jim Dunlap, Huntington's director of regional and commercial banking. "We are seeking out ways to contribute our own renewable energy production to increase efficiency and reduce our environmental impact, while supporting regional suppliers as both vendors and customers."