USA - GE Unit Invests in Texas Wind Farm

GE Energy Financial Services announced Thursday it is investing in a 120-megawatt wind farm in Texas, and plans to double its renewable energy investments to more than $4 billion by 2010.

The unit of General Electric Co. is investing in the Stanton Wind Energy project with Invenergy Wind LLC, a Chicago-based wind power developer. Financial details were not disclosed.

Large tracts of flat open land are making Texas an increasingly attractive region for wind power investment, GE Energy Financial Services said. The Stanton wind farm is in west Texas, which is known for oil and gas production, farming and ranching.

Construction of the wind farm began this summer and is scheduled to be completed by April. The wind farm, which includes 80 1.5-megawatt GE wind turbines, will annually produce enough power for 37,000 homes, GE Energy Financial Services said. All power will be sold in the Texas market.

GE Energy Financial Services holds equity in 51 wind farms worldwide, with a capacity to produce more than 2,550 megawatts of electricity.