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Back You are here: Home Renewables Wind Onshore Wind G.E., JP Morgan invest in 662-MW Capricorn Ridge wind farm in Texas

Onshore Wind

G.E., JP Morgan invest in 662-MW Capricorn Ridge wind farm in Texas

GE Energy Financial Services partnered with JP Morgan to invest $225 million on the 662.5-megawatt Capricorn Ridge wind farm in West Texas which is majority owned by a subsidiary of NextEra Energy Resources, L.L.C.

The move aims to expand G.E.'s renewable energy portfolio in Texas, where they have already invested in 2,143 MW worth of wind farm capacity, which is 20 percent of the entire state's wind capacity.

"This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of G.E.'s broader Ecomagination strategy," said Kevin Walsh, managing director and leader of power and renewable energy at G.E. Energy Financial Services.

"We were uniquely suited to invest in this project alongside JP Morgan because of our Texas wind market expertise."

Capricorn Ridge has been in operation since 2007 and employs 342 units of GE Energy's 1.5-MW machines, said to be the world's most widely deployed wind turbine, and 65 units of Siemens' 2.3-MW machines.

The wind site can make enough electricity to power more than 220,000 homes while avoiding more than 952,000 metric tons of greenhouse gas emissions per year - equivalent to taking approximately 186,000 cars off the road.

The project is found in one of Texas' Competitive Renewable Energy Zones - resource rich, high-wind areas in West Texas and the Texas Panhandle.

NextEra Energy Resources is a subsidiary of NextEra Energy, Inc., which has installed over 3,200 of GE's 1.5-1.6-MW wind turbines, or approximately 5,000 MW, in the United States since 2002. – EcoSeed Staff

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