The New York State Common Retirement Fund has invested $15 million in Invenergy's High Sheldon Wind Farm, located in Wyoming County, through Credit Suisse Customized Fund Investment Group, according to an announcement from State Comptroller Thomas P. DiNapoli.
‘Invenergy's High Sheldon Wind Farm is a perfect example of how we can do well for the members of the retirement system while doing good for New York businesses and the environment,’ DiNapoli says. "High Sheldon Wind Farm is creating clean and renewable energy for use in New York state. This is a great investment for the pension fund, and a good step toward making New York and the country more energy independent."
The High Sheldon Wind Farm's 75 wind turbines began generating power in March and are feeding the energy to New York state's electrical grid. The wind farm has the capacity to generate 112.5 MW of energy.
The High Sheldon Wind Farm interconnects to the transmission system of New York State Electric & Gas Co. at a new switch station constructed adjacent to the utility's 230 kV No. 67 Stoelle Road-Meyer transmission line and delivers its renewable energy for sale in the New York Independent System Operator market through this interconnection.
Through the In-state Private Equity Program, the retirement fund invests with private equity managers who seek to invest in companies in New York state that require capital for growth. The program, created in 1999, targets investment of state funds in the New York economy. The program is designed to provide investment returns consistent with the risk of private equity while also expanding the availability of capital for New York businesses.
SOURCE: The New York State Common Retirement Fund