GE unit, JP Morgan acquire stake in large Texas wind farm

General Electric’s Energy Financial Services unit and JP Morgan will jointly invest $225m in a partnership that owns the 662.5MW Capricorn Ridge wind farm in West Texas.

A subsidiary of NextEra Energy Resources remains the majority owner and operator of the project. Additional financial details of the transaction were not disclosed.

The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 GE 1.5MW turbines and 65 Siemens’ 2.3MW turbines.

The wind farm is capable of generating enough electricity to power more than 220,000 homes while avoiding more than 952,000 metric tons of greenhouse gas emissions per year – equivalent to taking approximately 186,000 cars off the road.

“This investment demonstrates our ability to provide both Log in to read complete article.

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