Airtricity, GE in $500 Million Deal

NAW Staff, Friday 30 June 2006 - 01:00:00

Airtricity has secured its largest deal for wind turbines to date in an unprecedented deal with GE Energy. Airtricity will purchase more than 300 GE 1.5-MW turbines, with a capacity totalling 500 MW, in a deal worth more than $550 million.

The investment will support Airtricity's U.S. build program for 2008 - turbines for 2006 and 2007 having been previously secured. Airtricity currently has a pipeline of 4,500 MW in development in Texas, New York, Pennsylvania, Colorado and New Mexico, and has a program in place through 2008 and beyond, including advanced plans to develop in the California and Canadian markets.

"This investment represents Airtricity's largest purchase of turbines in the history of the company to date. Bearing in mind the intense competition that exists in acquiring turbines at a time of world shortage, we are delighted to have secured capacity to deliver a further 500 MW of renewable energy for our 2008 build program in the U.S.," says Airtricity CEO Eddie O'Connor.



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