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GE Energy Financial Services to Invest in Stanton Wind Energy Project

Posted on: Friday, 2 November 2007, 12:00 CDT

GE Energy Financial Services, a unit of General Electric, has announced that it is investing in the Stanton Wind Energy project in Texas with Invenergy Wind, a global wind power developer.

Sited in a region known for oil and gas production, farming and ranching in Martin County, West Texas, midway between Fort Worth and El Paso, the 120MW wind farm will employ 80 GE 1.5MW SLE wind turbines.

The project interconnects with Oncor, the transmission affiliate of TXU, at the Midland East to Big Springs West 138kV line. All power will be sold into the ERCOT market. Energy price risk is hedged through a long-term agreement with Credit Suisse Energy.

Texas leads US states in installed wind power, and this investment will help the state meet its requirement to produce 5,880MW of its power from renewable sources by 2015. With large tracts of flat open land and the second highest wind energy potential in the US, Texas is an attractive region for wind power investment.

Kevin Walsh, managing director and leader of renewable energy at GE Energy Financial Services, said: "This investment is a fresh example of how we're pursuing growth opportunities in Texas, with experienced developers such as Invenergy. Stanton Wind brings the number of wind farms in which GE Energy Financial Services has invested in Texas to five, representing 770MW."

Source: Datamonitor

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