GE Wind Power Grows to 166 MW in Germany

GE Energy Financial Services is acquiring a 12 MW wind farm in Germany from Germania Windpark GmbH & Co KG, in its fourth German wind investment this year. Financial details were not disclosed.

Consisting of eight GE 1.5 MW turbines, the Krusemark wind farm in Sachsen-Anhalt, near Berlin, annually produces power sufficient for about 10,000 homes and saves approximately 35,000 tons a year in greenhouse gas emissions, compared with the equivalent in fossil-fuel generation. The transaction marks the seventh wind farm that GE Energy Financial Services acquired in Germany this year, bringing the total capacity of its holdings there to 166 MW. Germania, the project developer, will operate and maintain the facility, which was built this spring and supplies power to the regional grid. “This continues to build our high-quality wind farm portfolio in Germany, adding another very strong and experienced counterparty in Germania,” said Mark Jones, a GE Energy Financial Services Managing Director and transaction leader. GE Energy’s 1.5 MW wind turbine is among the world’s most widely sold wind turbines. With more than 3,600 units in operation today, GE’s 1.5 MW technology has proven itself in a broad range of wind environments around the globe. “This latest addition to our growing wind power portfolio is further evidence of our commitment to the European renewable energy market,” said Andrew Marsden, Managing Director of GE Energy Financial Services’ European operations.
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