getachipi

GE Energy Financial Services and Bankers Commercial Corp. bought the 150 MW Alta Wind I wind farm in Tehachapi, in Kern County, California for an undisclosed sum. The two are leasing the plant back to its developer, operator and manager, Terra-Gen Power LLC.

The wind farm uses 100 GE 1.5 MW SLE turbines and was completed in the fourth quarter of 2010. GE Energy Financial Services and Bankers Commercial Corporation each own 50 percent of the wind farm. Funds from the sale will be used to pay off construction loans Terra-Gen entered into for the project last March.

The Alta Wind I farm is the first phase of the Alta Wind Energy Center, a planned 3,000 MW project. The first 1,550 MW  is contracted to Southern California Edison.

Alta Wind I is one of the first projects to connect with Southern California Edison’s Tehachapi Renewable Transmission Project, a major transmission project in California to be constructed specifically for accessing a renewable-rich resource area. When completed, the Tehachapi Renewable Transmission Project will consist of more than 250 miles of new and upgraded high-voltage transmission infrastructure.

The project is eligible for a US Treasury grant created under the American Recovery and Reinvestment Act. It allows renewable energy project owners to access a cash grant in lieu of tax credits. 

Read more news and features on the business of power generation.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...