By Greentech Lead America: GE Energy Financial Services
has purchased 51 percent ownership stake in the Chisholm View wind project, one
of Oklahoma’s largest wind projects. GE has partnered with Enel Green Power
North America who owns the remaining 49 percent of the 235-megawatt wind farm.
This transaction expands the GE unit’s global wind portfolio
which comprises equity and debt financings for projects spanning 17 US states
and four other countries totaling 9.6 gigawatts in operation or under
construction.
The $375 million Chisholm View wind project is now under
construction and Enel Green Power North America serves as project manager of
the project. Enel Green Power and GE Energy Financial Services will
later raise tax equity for the wind farm.
“Through this deal, we are deepening our partnership with an
established wind energy leader, Enel Green Power, and supporting their efforts
as a common equity partner, representing an evolution in our US wind investing
strategy,” said Kevin Walsh, managing director and leader of power and
renewable energy at GE Energy Financial Services.
The project is expected to completed later this year and
will create 150 construction and up to 15 permanent jobs.
The project will deploy 140 of GE’s 1.6-megawatt wind
turbines and supply power to Alabama Power Company under a 20-year agreement.
TradeWind Energy, a strategic development partner of Enel Green Power North
America, will develop the wind farm.
The project is expected to generate enough power to offset
more than 565,000 metric tons of greenhouse gas emissions per year — equivalent
to taking approximately 110,000 cars off the road.
GE Energy Financial Services has previously invested
with Enel Green Power in a 101-megawatt wind farm in Smoky Hills, Kansas, and a
63-megawatt wind farm in Scurry County, Texas.
Recently, GE Energy Financial Services and JP Morgan
jointly invested
$225 million in a partnership that owns the 662.5-megawatt Capricorn Ridge wind
farm in West Texas.