GE and JP Morgan team up in $225m wind farm investment

General Electric Co. (GE) and JP Morgan Chase & Co (NYSE: JPM.) jointly purchased a minority stake in the Capricorn Ridge wind farm in Texas for $225 million from NextEra Energy Inc. (NEE).

GE, whose equipment generates more than a quarter of the world’s power, has invested in 2143 MW of wind farms in Texas, about 20 per cent of the state’s total installed wind capacity, the Fairfield, Connecticut-based company said today in a statement.

The 662.5 MW Capricorn Ridge wind farm, which began operating in 2007, uses turbines produced by both GE and Siemens AG (SIE) and can produce enough power for about 220,000 homes.

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