In partnership with global renewable energy company Enel Green Power, GE is investing common equity and supplying turbines for the 250 MW Buffalo Dunes wind project in Kansas.
GE unit GE Energy Financial Services now owns 51% of the Buffalo Dunes project, which is under construction southwest of Garden City, Kan. Enel Green Power North America, a subsidiary of Enel Green Power, maintains a 49% ownership stake, retains an option to increase this stake to 75% if elected during certain periods in 2013 and 2014, and serves as project manager.
In addition to capital, GE is supplying 135 wind turbines for the project and will provide operations and maintenance after completion. Construction, managed by RES Americas, is expected to be completed by December. Alabama Power Co. will buy most of the electricity from the project under a 20-year agreement.
This transaction expands GE Energy Financial Services' and Enel Green Power North America's portfolio of co-owned wind projects. Last year, the companies invested in the 235 MW Chisholm View wind project in Oklahoma and in the 200 MW Prairie Rose wind project in Minnesota. Both projects also feature GE wind turbines.