GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5 MW Capricorn Ridge wind farm in West Texas.
A subsidiary of NextEra Energy Resources LLC remains the majority owner and operator of the project. Additional financial details of the transaction were not disclosed.
The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy's 1.5 MW wind turbines and 65 of Siemens' 2.3 MW turbines. The project is located in Sterling and Coke counties in one of Texas' competitive renewable energy zones, resource-rich, high-wind areas in West Texas and the Texas Panhandle that will increasingly supply renewable energy to major population centers in eastern Texas via new transmission projects.
The Capricorn Ridge project is capable of generating enough electricity to power more than 220,000 homes while avoiding more than 952,000 metric tons of greenhouse gas emissions per year, according to GE.
