GE Unit Invests in Airtricity’s Roscoe, Texas, Wind Farm

Universal City, Calif. & Roscoe, Texas [RenewableEnergyAccess.com] GE Energy Financial Services is expanding its wind energy portfolio by agreeing to invest in a 209-megawatt project under construction by Airtricity in West Texas. GE Energy Financial Services and a subsidiary of Wachovia Corp. are each investing 50 percent of the structured equity, alongside the equity of project developer and operator Airtricity, Inc., in the $300 million Roscoe Wind Farm. Construction of the Roscoe project began in March and is scheduled for completion by the end of this year in Roscoe, Texas. The Roscoe Wind Farm, the third wind project successfully developed by Airtricity in the United States, all in Texas. It will use 209 one-megawatt Mitsubishi WTG turbines, with power sold to TXU Wholesale, a subsidiary of TXU Corp., under a five-year contract.

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