GE Energy Financial Services, a unit of GE, has invested in three Noble Environmental Power windparks – all located in New York state – that will generate 282 MW. The GE unit's first investment in wind energy in New York will increase the state's wind energy capacity to 671 MW, according to GE.
The wind power projects, located in the towns of Clinton and Ellenburg in Clinton County, and Bliss in Wyoming County, N.Y., represent a $564 million investment in clean, renewable energy that will bring an estimated $352 million in new revenue to the regional economies over the next 20 years.
Noble Environmental Power, an Essex, Conn.-based wind power developer, will construct, operate and manage the facilities, which are expected to begin commercial operation during the fourth quarter of this year.
‘This transaction represents a significant geographic expansion of our wind energy footprint and helps us to reach our goal of investing $4 billion globally in renewable energy by 2010,’ says Kevin Walsh, managing director and leader of renewable energy at GE Energy Financial Services.