GE Buys Stake In Large Oklahoma Wind Farm
| in News Departments > Projects & Contracts |
| GE Energy Financial Services has partnered with Enel Green Power North America Inc. by committing common equity for a 51% ownership stake in the Chisholm View wind project. The 235 MW wind farm is currently under construction near Hunter, Okla., and is expected to cost approximately $375 million. Enel Green Power North America owns the remaining 49% of the project and serves as the project manager. Enel Green Power and GE Energy Financial Services will raise tax equity for the wind farm at a later time. The project will be completed by the end of this year in order to qualify for the federal production tax credit. It will use 140 of GE’s 1.6 MW wind turbines and supply power to Alabama Power Co., a Southern Company subsidiary, under a 20-year agreement. The wind farm’s developer, TradeWind Energy - a strategic development partner of Enel Green Power North America - estimated that the Chisholm View wind project will contribute up to $5 million annually to the local economy via property taxes and rent payments to landowners. GE Energy Financial Services 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. |
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