GE Invests In US Wind Farms

Energy giant GE Energy is set to boost the US renewable energy business with a US$6bn wind deal.

The company has announced it is to invest in a group of wind farms - owned by US wind company Horizon Wind Energy LLC - in four US states: Oregon, Minnesota, Texas and Illinois.

The company says the four wind farms will annually produce sufficient electricity to power more than 180,200 US homes, saving 1.4 million tonnes of greenhouse gas emissions compared to equivalent fossil fuel generation.

"The Horizon portfolio investment reinforces ecomagination, GE's programme to help its customers meet their environmental challenges while expanding the company's own portfolio of cleaner energy products," GE says.

GE Energy Financial Services closed more than US$2bn of renewable energy transactions last year, and by 2010 expects renewables to make up 20-25 percent of its overall energy and water portfolio.

By Ozge Ibrahim