"Progress Energy (NYSE: PGN) is investing $300,000 in a new study from UNC-Chapel Hill that is designed to provide an analysis of offshore wind potential for energy generation.
The Progress funding matches a federal grant for the project.
Last October, UNC-Chapel Hill and Duke Energy said they were teaming up for a wind turbine project that will be used to study the potential of wind as an alternative source for electricity.
Up to three towers will be constructed in Pamlico Sound.
The UNC Department of Marine Sciences will conduct this new study.
Total cost of the project is expected to be $1 million."
The Progress funding matches a federal grant for the project.
Last October, UNC-Chapel Hill and Duke Energy said they were teaming up for a wind turbine project that will be used to study the potential of wind as an alternative source for electricity.
Up to three towers will be constructed in Pamlico Sound.
The UNC Department of Marine Sciences will conduct this new study.
Total cost of the project is expected to be $1 million."
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