Pickens is pouring billions of dollars into a wind farm that could power 1.3 million homes, CNN reported Tuesday.

The business will start with 600 turbines, churning out 1,000 megawatts of power before expanding to 4,000 megawatts, Pickens said in a CNN interview.

Pickens said a wind corridor "from Pampa, Texas, to the Canadian border" was underutilized.

"You know, it's everything you want. And it's a stable supply of energy," he said.

He made his money in oil, but "we are going to have to do something different in America. You can't keep paying out $600 billion a year for oil," he said.