GE unit buys stake in wind energy project

GE Energy Financial Services, a unit of GE (NYSE: GE), bought a 51 percent stake in the 235-MW capacity Chisholm View wind project in Oklahoma. Enel Green Power North America owns the remaining 49 percent interest.

The $375 million project is expected to be completed in late 2012 and will use 140 GE 1.6 MW wind turbines. Alabama Power Co., a unit of Southern Co. (NYSE: SO) signed a 20-year power purchase agreement for the output from the plant. TradeWind Energy is the strategic development partner for the project.

GE Energy Financial Services has previously invested with Enel Green Power in a 101-MW wind farm in Smoky Hills, Kan., and a 63-MW wind farm in Scurry County, Texas.

Read more financial news

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...