PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Expanding its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in NextEra Energy Resources’ 662.5-MW Wind Farm - Expanding its renewable energy portfolio in Texas, GE unit (NYSE: GE) GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5-megawatt Capricorn Ridge wind farm in West Texas
Expanding its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in NextEra Energy Resources’ 662.5-MW Wind Farm

 

NewswireToday - /newswire/ - San Angelo, TX, United States, 2012/02/27 - Expanding its renewable energy portfolio in Texas, GE unit (NYSE: GE) GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5-megawatt Capricorn Ridge wind farm in West Texas. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

A subsidiary of NextEra Energy Resources, LLC remains the majority owner and operator of the project. Additional financial details of the transaction were not disclosed. NextEra Energy Resources is a subsidiary of NextEra Energy, Inc. (NYSE: NEE).

The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy’s 1.5-megawatt machines, the world’s most widely deployed wind turbine, and 65 of Siemens’ 2.3-megawatt machines. The project is located in Sterling and Coke counties in one of Texas’ Competitive Renewable Energy Zones (CREZ) – resource rich, high-wind areas in West Texas and the Texas Panhandle that will increasingly supply renewable energy to major population centers in eastern Texas via new transmission projects. The Capricorn Ridge project 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 – according to US Environmental Protection Agency methodology.

“This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of GE’s broader ecomagination strategy,” said Kevin Walsh, managing director and leader of power and renewable energy at GE Energy Financial Services. “We were uniquely suited to invest in this project alongside JP Morgan because of our Texas wind market expertise.”

Including Capricorn Ridge, GE Energy Financial Services has invested in 2,143 megawatts of wind farms in Texas – approximately 20 percent of the installed wind capacity in the state. This transaction represents the GE unit’s second major investment with NextEra Energy Resources and expands GE’s broader relationship with NextEra Energy, which has been a GE customer for the past several decades. NextEra Energy Resources has installed over 3,200 of GE’s 1.5-1.6-megawatt wind turbines, or approximately 5,000 megawatts, in the United States since 2002.

“We are very pleased to have raised capital through this differential partnership transaction on one of the nation’s largest wind energy centers,” said Moray Dewhurst, vice chairman and chief financial officer of NextEra Energy, Inc. “We are equally pleased to have expanded our relationships with GE and JP Morgan.”

GE Energy Financial Services’ wind investing supports GE’s broader ecomagination strategy to create value for customers by solving energy, efficiency and water challenges.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally across the capital spectrum in essential, long-lived, and capital-intensive energy assets that meet the world’s energy needs. In addition to capital, GE Energy Financial Services (geenergyfinancialservices.com) offers the best of GE’s technical know-how, technology innovation, financial strength, and rigorous risk management. Based in Stamford, Connecticut, the GE business unit helps its customers and GE grow through new investments, strong partnerships, and optimization of its approximately $20 billion in assets.

About GE
GE (GE.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website.

About NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities,"NextEra Energy Resources"), is a clean energy leader and is one of the largest competitive energy suppliers in North America, operating in 22 states and Canada. NextEra Energy Resources is the largest generator in North America of renewable energy from the wind and sun, owning and operating approximately 8,569 megawatts of wind and 158 megawatts of solar power at the end of 2011. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is the third largest in the United States. NextEra Energy Resources, LLC (NextEraEnergyResources.com) is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE).

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Expanding its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in NextEra Energy Resources’ 662.5-MW Wind Farm

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Christa Bowers - GE Energy Financial Services 
+1 203-961-2934 christa.bowers[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

ABB At Hannover Messe 2017 - Showcasing Customer Value in the Digital Age
Nord Stream 2 AG and European Energy Companies Sign Financing Agreements
GE Completes Acquisition of LM Wind Power
Enel Starts Construction of 300 MW Red Dirt Wind Farm in United States
ET Solar and DSM Announce Strategic Partnership to Accelerate Market Penetration of PV Modules Featuring Unique Sustainable and Durable Backsheets
El Lago Named 'Green Power Community' in Texas by U.S. EPA
GE and Southern California Edison Debut World’s First Battery-Gas Turbine Hybrid
GE Successfully Installed the First Unit of 1,500-Volt Solar Inverter in Japan
ENGIE Wins A 338 MWp Solar Project in India
GE & MGH Mark Commercial Operations of 9F Gas Turbines At Baghdad Power Plant
ENGIE and Axium Secure 50-year Comprehensive Energy Management Contract with The Ohio State University in the US
ENGIE Axima Chosen by the Shipyard MV Werften within the Scope Limit of the Building of 2 XXL Cruise Ships
SPR Energy Puts Trust in GE to Operate Malaysian Power Plant for the Next 18 Years
ENGIE Acquires 100% of La Compagnie Du Vent
Enel Signs 25-Year PPA with Zambian National Utility Zesco

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  MagLar, Inc.

Visit  BizJobs.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)