GE Energy Financial Services is investing an undisclosed sum in a 120-megawatt wind farm in Texas with Invenergy Wind.
Situated midway between Fort Worth and El Paso, the Stanton Wind farm will employ 80 GE 1.5-megawatt sle wind turbines.
Started in 2007, construction is scheduled for completion by April 2008, when Stanton will produce power sufficient for 37,000 homes. GE claims this will save 285,000 tons a year in greenhouse gas emissions, compared to equivalent fossil fuel generation.
With this investment, GE Energy Financial Services holds equity in 51 wind farms worldwide, with a capacity to produce more than 2,550 megawatts of electricity. It plans to double its more than $2bn of renewable energy investments by 2010.
Texas leads US states in installed wind power, and this investment will help the state meet its requirement to produce 5,880 megawatts of its power from renewable sources by 2015.