GE & JP Morgan Invest $225 Million in 662.5-MW Capricorn Ridge Wind Farm
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GE Energy Financial Services and JP Morgan announced yesterday that they are jointly investing $225 million into the 662.5-megawatt Capricorn Ridge wind farm in West Texas that is mostly owned and operated by NextEra Energy Resources.
Here are some more details on the behemoth of a wind farm:
- in operation since 2007
- can generate enough electricity for up to 220,000 homes
- can cut greenhouse gas emissions by 952,000 metric tons per year (equal to taking ~186,000 cars off the road)
- includes 342 1.5-megawatt GE Energy wind turbines and 65 2.3-megawatt wind turbines from Siemens
- located in Sterling and Coke counties, in West Texas, in one of Texas’ Competitive Renewable Energy Zones (CREZ)
“This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of GE’s broader ecomagination strategy,” said Kevin Walsh, managing director and leader of power and renewable energy at GE Energy Financial Services.
“We were uniquely suited to invest in this project alongside JP Morgan because of our Texas wind market expertise.”
In total, “GE Energy Financial Services has invested in 2,143 megawatts of wind farms in Texas – approximately 20 percent of the installed wind capacity in the state,” the company notes. No small deal.
Of course, as Chris Varrone wrote in an article for CleanTechnica nearly a year ago, “GE wants to sell you everything.” The company is huge and has it’s hands in just about everything, especially in the energy sector. Of course, that doesn’t make its investment in clean energy any less important, but one does wish that it would redirect more of its resources in this direction. This investment just announced yesterday is clearly a decent movement in that direction.
Source: GE | Capricorn Ridge wind turbine via NextEra Energy Resources
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