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April 1, 2021

GE Renewable Energy to provide turbines for Invenergy wind farms

GE Renewable Energy has signed an onshore wind turbines supply contract with US-based power generation company Invenergy for three wind farms in Oklahoma.

By Umesh Ellichipuram

GE Renewable Energy has signed an onshore wind turbines supply contract with US-based power generation company Invenergy for three wind farms in Oklahoma.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The North Central Wind Energy Facilities comprises three farms being developed by Invenergy. These are the Traverse, Maverick and Sundance Wind Energy Centres.

The farms, with a combined capacity of 1485MW, will be owned by American Electric Power (AEP) once completed.

Under the agreement, GE will supply 492 of its 2.X-127s turbines and 39 of its 2.X-116 turbines. The turbines will have varying nameplates and hub heights.

Invenergy executive vice-president and chief commercial officer Jim Shield said: “It is critical that Invenergy works with trusted partners as we develop and build the North Central Wind Energy Facilities, including Traverse, the largest wind farm in the country, and especially during the Covid-19 pandemic.

“Invenergy is proud to deepen our long-standing partnership with GE to deliver the benefits these projects will bring to AEP and the nation.”

The Maverick and Sundance farms will be completed this year, while the Traverse farm is due for completion next year.

During the construction phase, the Traverse project received investment from GE Energy Financial Services (GE EFS). GE EFS also provided creative structuring to allow the build transfer opportunity to be financed.

The North Central Wind Facilities will be GE Renewable Energy’s second onshore project with more than 1GW capacity in the western hemisphere this year.

GE Renewable Energy Onshore Americas CEO Tim White said: “GE Renewable Energy is delighted to be a part of this exciting endeavour, which is the largest combined onshore wind project in GE’s history.

“We have a long partnership with Invenergy and AEP and look forward to working closely with them to help bring a significant amount of affordable, sustainable energy to the region.”

This week, Invenergy sold its Deuel Harvest Wind Farm to US-based wholesale energy provider Southern Power.

The farm, which began commercial operations last month, is equipped with 109 wind turbines supplied by GE Renewable Energy.

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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