Airtricity Buys 500 MW of Renewable Energy in GE Turbines

Airtricity plans to purchase more than 300 GE 1.5-MW wind turbines, with 500 MW capacity in an arrangement exceeding $550 million, which the company describes as unprecedented. The investment will support Airtricity’s U.S. build program for 2008; turbines required for 2006 and 2007 have already been secured.

“This 500 MW deal with GE Energy is testimony to Airtricity’s commitment to begin the process of making electricity generation in the USA into a native sourced activity,” said Airtricity Chief Executive Eddie O’Connor. In the U.S., Airtricity has a pipeline of 4,500 MW under way in Texas, New York, Pennsylvania, Colorado, and New Mexico with an ambitious plan for 2008 and beyond, including advanced plans to develop in the California market. “Bearing in mind the intense competition that exists in acquiring turbines at a time of world shortage,” said Airtricity Chief Executive Eddie O’Connor, “we are delighted to have secured capacity to deliver a further 500 MW of renewable energy for our 2008 build program in the USA.” Beyond the U.S., Airtricity has set its sights on the Canadian market, as well as considering similar deals for Ireland and the rest of Europe. For his own country, O’Connor said, “Airtricity is also installing 100 MW of GE wind turbines in Ireland this year and we look forward to continuing to work with GE.”

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