GE Invests $100M In N.Y. Wind Farms

NAW Staff, Wednesday 09 July 2008 - 10:27:18

Stamford, Conn.-based GE Energy Financial Services has announced an investment of $100 million in three wind farms in New York.

When the projects are completed during the fourth quarter of this year, GE Energy Financial Services will invest equity as the nonmanaging member of the three wind farms, and Noble Environmental Power, a wind energy developer based in Essex, Conn., will invest as the managing member. Noble will construct, operate and manage the facilities.

"Wind farms provide not only clean energy, but more jobs," says Kevin Walsh, managing director and leader of renewable energy at GE Energy Financial Services. “In a world with rising fuel costs, this new form of energy - and the millions of dollars in economic benefits it provides - is truly America's new cash crop."

The portfolio consists of:

- Noble Chateaugay Windpark (106.5 MW) in Franklin County,

- Noble Altona Windpark (97.5 MW) in Clinton County and

- Noble Wethersfield Windpark (126 MW) in Wyoming County.

SOURCE: GE Energy Financial Services



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