Sumitomo Enters US Wind Energy Market

Sumitomo Corporation of America (SCOA) in conjunction with Sumitomo Corporation (SC) is entering the U.S. wind energy business with the purchase of an interest in a 120-megawatt (MW) wind farm in Martin County, Texas.

Sumitomo has purchased a 42.5% share in Stanton Wind Energy LLC from AIG Financial Products Corp. The Stanton wind project is developed, managed and operated by Stanton Wind Holdings LLC, a 100% subsidiary of Invenergy Wind North America LLC.

The project utilizes 80 1.5-MW GE turbines and commenced its commercial operations in February 2008. It has been in continuous operations since that time. The remaining share will be held by GE Energy Financial Services and Invenergy group. SC already has two developed and operating wind farms in Japan, and one project under development in China.

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