GE JP Morgan Invest $225 Million in 662.5-MW Capricorn Ridge Wind Farm

 

GE Power Financial Providers and JP Morgan announced yesterday that they are jointly investing $ 225 million into the 662.5-megawatt Capricorn Ridge wind farm in West Texas that is largely owned and operated by NextEra Energy Sources.

Right here are some a lot more details on the behemoth of a wind farm:

• in operation since 2007


• can make sufficient electrical power for up to 220,000 houses


• can cut greenhouse gas emissions by 952,000 metric tons per year (equal to taking ~186,000 cars off the road)


• contains 342 1.five-megawatt GE Energy wind turbines and 65 2.3-megawatt wind turbines from Siemens


• found in Sterling and Coke counties, in West Texas, in a single of Texas’ Competitive Renewable Power Zones (CREZ)

“This investment demonstrates our capacity to give both the capital and equipment for vital power infrastructure projects in assistance of GE’s broader ecomagination approach,” mentioned Kevin Walsh, managing director and leader of energy and renewable power at GE Energy Monetary Providers.

“We had been uniquely suited to invest in this project alongside JP Morgan because of our Texas wind marketplace knowledge.”

In total, “GE Power Economic Providers has invested in two,143 megawatts of wind farms in Texas – about twenty percent of the set up wind capacity in the state,” the organization notes. No modest deal.

Of course, as Chris Varrone wrote in an article for CleanTechnica almost a year ago, “GE wants to market you every little thing.” The firm is enormous and has it’s hands in just about everything, particularly in the energy sector. Of course, that doesn’t make its investment in clean power any much less essential, but a single does want that it would redirect much more of its resources in this path. This investment just announced yesterday is clearly a decent motion in that direction.

Source: GE | Capricorn Ridge wind turbine via NextEra Power Sources

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