GE’s Energy Financial Services unit, in its third investment in wind power generation in Germany, announced recently an agreement to acquire the 55-megawatt Alsleben project from EAB Technology Group. Financial terms were not disclosed.
The Alsleben project, located between Magdeburg and Halle, is one of Germany’s largest wind farms and will consist of 37 GE 1.5-megawatt turbines.
Construction of the Alsleben project began last week and will include a power substation and upgrade of a transmission line. It is scheduled to enter commercial service by April 2006, selling its electricity to the regional grid operator.
According to GE, the wind farm will produce enough power for about 30,000 homes and will save approximately 100,000 tons a year in greenhouse gas emissions, compared with equivalent fossil fuel generation.
EAB, the project developer and construction manager, will continue as technical advisor, while GE Energy will operate and maintain the wind farm.
GE’s Energy Financial Services’ two earlier German wind acquisitions were the purchases of four wind farms from Denker & Wulf and one from REpower in July. The Alsleben transaction brings GE’s Energy Financial Services’ total wind capacity in Germany to 154 megawatts.