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GE Plows $65M into Oklahoma Wind Farm

Posted Feb 16th 2010 11:30AM by Elizabeth Harrow (RSS feed)
Filed under: Deals, General Electric (GE), Options, Technical Analysis, DJIA

GE Energy Financial Services, a unit of Dow component General Electric (GE), announced Tuesday that it made a $65 million preferred equity investment in the CPV Keenan II wind farm, which is under development in Oklahoma. CPV Renewable Energy Company plans to begin construction on the 152-megawatt wind farm this month.

GE also has the option to invest $100 million more in partnership equity upon commencement of commercial operations. The project's estimated cost is $319 million, with $212 million being funded by a senior secured credit facility arranged by the Bank of Tokyo-Mitsubishi and Union Bank.

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GE begins Hawaiian wind farming

Posted Sep 13th 2006 5:21PM by Michael Canfield (RSS feed)
Filed under: Deals, Industry, General Electric (GE)

GE will fund a wind farming project in Hawaii under its unit GE Energy Financial Services. GE maintains that renewable energy is an essential component of the "world energy mix." I stumbled across GE's in-house Global Research blog. According to a post written early this year, the company claimed that since obtaining "Enron's wind turbine assets in 2002, GE has presided over significant growth in this business." Around the same time, the independently-run EnergyBlog noted that "wind energy costs drop below conventional sources in some markets."

Ge will supply 14 of its 1.5-MW wind turbines which will be place at the south tip of the big island. Project managers estimate the farm will produce energy equivalent to power 10,000 homes.