North American Windpower: GE Energy Financial Services Invests In Two Texas Wind Farms

GE Energy Financial Services Invests In Two Texas Wind Farms

in News Departments > Projects & Contracts

by NAW Staff on Friday 25 May 2007

GE Energy Financial Services, a unit of General Electric, in cooperation with Wachovia Corp., has agreed to invest in two wind farms in Texas - the 209 MW Roscoe wind farm located in Mitchell, Nolan and Scurry counties and the 241 MW Sweetwater 4 project in Nolan County.

Airtricity is the developer of the Roscoe wind farm, which is currently under construction. The project will employ 209 1 MW Mitsubishi WTG turbines, with power sold to TXU Wholesale - a subsidiary of TXU Corp. - under a five-year contract.

Babcock & Brown and Catamount Energy will remain equity investors in Sweetwater 4 once the transaction is complete, and Babcock & Brown will continue to perform management and operation functions. The Sweetwater 4 wind farm will consist of 135 1 MW Mitsubishi turbines and 46 Siemens 2.3 MW turbines. The energy from the project will be sold to San Antonio's CPS Energy, a municipally owned energy company, under a 20-year purchase agreement. Construction of the Sweetwater 4 farm began last August, with completion scheduled for this month, the companies add.

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