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!

Pattern, GE, Citi Enter Texas Panhandle Wind Market - GE unit GE Energy Financial Services and Citigroup, Inc. unit Citigroup Global Markets, Inc. will invest structured equity in the project [NYSE: GE] [NYSE: C]
Pattern, GE, Citi Enter Texas Panhandle Wind Market


NewswireToday - /newswire/ - panhandle, TX, United States, 2013/08/20 - GE unit GE Energy Financial Services and Citigroup, Inc. unit Citigroup Global Markets, Inc. will invest structured equity in the project [NYSE: GE] [NYSE: C]. 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!


Tapping into a premier wind resource, Pattern Energy Group LP is starting construction of the 218-megawatt Panhandle Wind Project using Texas’ new Competitive Renewable Energy Zone transmission infrastructure and connecting to the state’s main power grid operator, the Electric Reliability Council of Texas. GE unit GE Energy Financial Services and Citigroup, Inc. unit Citigroup Global Markets, Inc. will invest structured equity in the project.

Located on 18,000 acres in Carson County 30 miles from Amarillo, Panhandle Wind will sell power to Citigroup Energy Inc. under a long-term hedge offtake agreement. Pattern which developed the project, is serving as its managing member and will provide operations and maintenance is receiving construction loans from BayernLB, Credit Agricole Corporate and Investment Bank, Nord/LB, Landesbank Baden-Wuerttemberg, RBC, RBS and Societe Generale. Mortenson Construction is overseeing construction of Panhandle Wind, which will use 118 GE 1.85 megawatt, 87-meter turbines. Completion is estimated in August 2014. Financial details of the equity and debt transactions were not disclosed.

“Through our use of GE turbine technology and our partnership with financial institutions GE Energy Financial Services and Citigroup, we are harnessing the abundant wind resource of the Texas Panhandle to generate clean energy and to benefit the local communities,” said Pattern Energy CEO Mike Garland. “Panhandle Wind is creating more than 200 construction jobs and, over the project’s life, will contribute millions of dollars through a community benefits program and property taxes to Carson County, the White Deer and Panhandle School Districts, and the Panhandle Groundwater Conservation District.”

This project deepens the longstanding relationships that Pattern’s executives have developed with GE on previous wind projects.

“This investment allows us to grow by expanding our wind portfolio and demonstrates the diverse roles we play in renewable energy transactions,” said Kevin Walsh, Managing Director of Power and Renewable Energy at GE Energy Financial Services. GE Energy Financial Services holds a portfolio of approximately 11 gigawatts of wind power projects in operation or under construction.

“Citi is committed to developing innovative financing solutions for renewable energy projects, like the Panhandle Wind Project, which will provide hundreds of green jobs to the local economy and clean, renewable energy to thousands of Texans,” said Marshal Salant, Managing Director and Global Head, Citi Alternative Energy Finance. Since 2007, Citi has directed over $44.4 billion towards clean energy financing and investment as part of its 10-year, $50 billion Climate Initiative.

The Panhandle Wind Project will generate enough electricity to power 60,000 homes according to US Energy Environmental Protection Agency methodology avoiding approximately 460,000 metric tons of greenhouse gas emissions per year, the equivalent of the annual emissions from 96,000 US passenger vehicles.

About Pattern Energy
Pattern Energy Group LP ( is an independent, fully-integrated energy company that develops, constructs, owns, and operates renewable energy and transmission assets in the United States, Canada and Latin America. With a long history in wind energy, Pattern’s highly-experienced team of scientists, engineers, construction experts, and legal and financial professionals has developed, financed and placed into operation nearly 3,000 MW of wind power projects. A strong commitment to promoting environmental stewardship drives the Company’s dedication to work closely with landowners and communities to create premier renewable energy projects. Pattern currently operates approximately 1,000 MW of installed wind energy capacity in North America and Puerto Rico. The Company’s full development pipeline exceeds 3,000 MW of renewable energy and transmission projects. Pattern has offices in San Francisco, San Diego, Houston, New York, and Toronto.

About GE Energy Financial Services
GE Energy Financial Services ( GE’s energy investing business works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money expertise for essential, long-lived and capital-intensive power, oil and gas infrastructure GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds approximately $18 billion in assets.

About GE
GE ( 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.

About Citi
Citi (, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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!

Pattern, GE, Citi Enter Texas Panhandle Wind Market

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!

Panhandle Wind | GE News Center
Publisher Contact: Andy Katell - GE Energy Financial Services 
203-961-5773 andrew.katell[.]
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:

GE Expands Uninterruptible Power Supply Portfolio with New Flywheel UPS Solution
GE Leverages its Local Expertise to Provide Proven Solutions to Leading Wind Turbine OEM XEMC Windpower in China
ENGIE Signs A First Memorandum of Understanding with CMA CGM
Thassalia - Inauguration of France's First Marine Geothermal Power Station
SKF and GE Oil & Gas Sign Collaboration Agreement to Develop Use of Active Magnetic Bearing Applications
Enel Starts Construction of New 300 MW Wind Project in the United States
GE Renewable Energy to Supply New Generators to Mottec Hydropower Plant in Switzerland
Spirit AeroSystems Selects GE to Accelerate its Digital Transformation
ENGIE Acquires SIRADEL - The Leading High-tech Player in 3D Modelling and A Supplier of Innovative Urban Solutions
NEC Energy Solutions to Supply Sterling, MA with the Largest Battery Grid Energy Storage Installation in New England
GE Plans to Capture More Wind with $1.65B Acquisition of LM Wind Power - A Global Designer and Manufacturer of Wind Turbine Blades
Metso Recognized by Freeport-McMoRan as Long-term Strategic Partner
ABB Energizes Transformer At World Record Voltage Level of 1.2 Million Volts
Voith to Modernize Generators for Second Largest Pumped Storage Power Plant in South Africa
GE Launches ElfaPlus* Miniature Circuit Breakers with UL Rating

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business


Visit  Demyk Lightmod Products, Inc.

Visit  Intrinsic Executive Search Ltd

  ©2016 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 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 (