- Category: Onshore Wind
05 Dec 2012
- Published on Wednesday, 05 December 2012 09:50
- Hits (2524)
General Electric Company’s wind energy branch and energy investing business closed major deals for wind developments in Brazil and Kansas, respectively. G.E. and Brazilian wind developer Renova Energy signed a contract worth $394 million for wind turbines.
Renova, which has around 1 gigawatt’s worth of wind installed in Brazil, is constructing a 386-MW facility in the southeast of Bahia state. The Alto Sertao II Wind Farm will supply power for around 1 million people.
G.E. – which has been involved in wind energy for a decade now – is one of the world’s largest turbine manufacturers with around 20,000 turbines installed globally. In Brazil, they have around 300 turbines installed to date.
Meanwhile, GE Energy Financial Services has joined a group comprising of Metropolitan Life Insurance Company and Union Bank, N.A., to invest nearly $247 million in the 201-MW Post Rock wind farm outside Wichita, Kansas.
The Post Rock wind farm was commissioned by the Wind Capital Group, which develops and operates utility-scale wind farm projects across the U.S. Wind Capital Group, supported by its parent company NTRC plc, will maintain a substantial equity stake and serve as managing member of the Post Rock project.
Post Rock is capable of powering more than 70,000 average homes and displacing about 815,000 tons per year of greenhouse gas emissions. The project has a long term power purchase agreement with Westar Energy, the largest electric utility in Kansas.
G.E. will also be providing 134 1.5-MW turbines from the project as well as operations and maintenance services.
This is GE Energy Financial Services’ third investment in Kansas, following its 2009 investments in a 201-megawatt wind farm in Meridian Way and a 101-megawatt project in Smokey hills.
The investment in Post Rock expands GE Energy Financial Services global wind portfolio to almost 9,800 megawatts in operation and under construction. These wind investments support GE’s broader Ecomagination strategy which focuses on solving energy, efficiency and water challenges. – EcoSeed Staff