GE Invests in Texas & Illinois Wind Projects

GE Energy Financial Services is partnering for the third time with Invenergy Wind, LLC by investing in Illinois and Texas wind farms that will produce approximately 250 megawatts (MW) of power combined. GE is investing in the McAdoo wind farm in Texas and the Grand Ridge wind farm in Illinois.

The McAdoo project will use 100 GE 1.5-MW wind turbines and the Grand Ridge project will use 66 GE 1.5-MW wind turbines. Invenergy and GE expect both projects to come online in the third quarter of 2008. Financial details were not disclosed.

“To sustain growth in wind energy investment, it is crucial that the federal government renew the Production Tax Credit, scheduled to expire in December,” said Tim Howell, managing director and origination leader of renewable energy at GE Energy Financial Services. “Keeping the wind energy industry strong means more jobs and economic opportunities while helping the United States increase its supply of renewable energy and reduce dependence on foreign energy sources.”

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