in News Departments > Projects & Contracts
print the content item

GE Energy Financial Services (EFS), a unit of General Electric, has committed to invest in a 410 MW wind farm portfolio, representing one of the company's largest wind investments. EFS will invest approximately $270 million for 70% of the Class A equity in six wind farms in California, Illinois, New Mexico and Pennsylvania. A subsidiary of Wachovia Corp. will provide the balance of the investment.

The wind farms were wholly owned by affiliates of global investment and advisory firm Babcock & Brown. Affiliates of Babcock & Brown will be the managers and remain as Class B equity co-investors in the portfolio.

The wind portfolio consists of the following installations:
- the 90 MW Aragonne Mesa in Guadalupe County, New Mexico (Arizona Public Service is the project's off-taker),
- the 80 MW Allegheny Ridge I and 70 MW Allegheny Ridge II in Pennsylvania's Cambria and Blair counties (FirstEnergy Solutions, a subsidiary of FirstEnergy Corp., has contracted to purchase the output of the two wind farms),
- the 80 MW GSG in Illinois' Lee and LaSalle counties (the output will be sold at market prices),
- the 52 MW Mendota Hills in Lee County, Illinois (the output will be sold at market prices), and
- the 38 MW Buena Vista in the Altamont Pass area of northern California (the output is contracted to PG&E Corp.).

All the wind farms either have been completed or will be completed by the end of April, except Allegheny Ridge II, which is expected to be finished by December.


Advertisement

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015