Google and Citi to Invest in 102MW US Wind Project

26 May 2011 (Last Updated May 26th, 2011 18:30)

Google and Citi will invest $55m each in the 102MW Alta IV project in California, US, which is part of the 1,550MW Alta Wind Energy Center (AWEC) being developed in phases by Terra-Gen Power. Citi has underwritten the equity financing for Alta Projects II-V, totaling 570MW.

Google and Citi will invest $55m each in the 102MW Alta IV project in California, US, which is part of the 1,550MW Alta Wind Energy Center (AWEC) being developed in phases by Terra-Gen Power.

Citi has underwritten the equity financing for Alta Projects II-V, totaling 570MW.

The first five Alta projects, with a combined capacity of 720MW, are now complete, while construction of another 300MW facility is expected to be complete by the end of this year.

Wind energy generated by the project will be supplied to the state electric utility Southern California Edison, under a power purchase agreement signed in 2006.

Upon completion, the AWEC facility will generate electricity sufficient to power 450,000 homes in California and will reduce carbon emissions by 52 million metric tonnes.

AWEC will use a new transmission line, which is part of the 4,500 MW Tehachapi renewable transmission project, to transport power to Southern California and other regions.