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July 4, 2010

GE Invests in US Wind Projects

GE Energy is investing $500m in a portfolio of 11 wind farms being developed by Exergy Development Group, US. GE Energy will own a majority equity interest in the Idaho Wind Partners project, while Exergy will own a minority interest along with manager and operator Reunion Power.

By cms admin

GE Energy is investing $500m in a portfolio of 11 wind farms being developed by Exergy Development Group, US.

GE Energy will own a majority equity interest in the Idaho Wind Partners project, while Exergy will own a minority interest along with manager and operator Reunion Power.

Fagen began work on the projects earlier this month and is due to complete wind farms near Hagerman and Burley by the end of the year.

Using 122 of GE’s 1.5MW turbines, the wind projects will have a total capacity of 183MW and cut down greenhouse gas emissions by 331,000t a year.

In addition, GE will provide seven years of operational and maintenance services to the project.

Power generated from the wind farms will be supplied to Idaho Power Company.

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Once completed, the portfolio is expected to qualify for the Federal Treasury Grant programme, which is designed to stimulate renewable energy projects.

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