News Release from GE Vernova

Wind Industry Profile of

GE Vernova

05/20/2021

GE Announces 302 MW Agreement with Lincoln Land Wind

Agreement includes 107 GE 2.82-127 turbines and 20-year FSA / Project to be completed by the end of 2021 / GE and Ares have announced more than 800 MW together over the last 12 months

GE Renewable Energy announced today that it has been selected to provide 107 of GE’s 2.82-127 onshore wind turbines for the 302 MW Lincoln Land Wind project in Morgan County, IL. The wind farm is owned by funds managed by the Infrastructure and Power strategy of Ares Management Corporation (“Ares”). Apex Clean Energy led the development of Lincoln Land Wind and Ares finalized preconstruction milestones, including securing turbines, financing (tax equity and debt), and other project contracts. The partnership with GE also includes a 20-year full-service agreement. The project is anticipated to be completed by the end of 2021.

Lincoln Land will have 107 of GE’s 2.82-127 turbine, which was recently announced as the most widely deployed turbine in the US in 2020 by the American Clean Power Association.

Tim White, GE Renewable Energy’s CEO for Onshore Americas, said “We are delighted to continue our partnership with Ares. Together, we have announced more than 800MW in new onshore units over the last 12 months—this is an exciting milestone, and we’re thrilled to support our customers in accelerating the energy transition by helping to deliver sustainable, affordable, renewable energy through our combined projects in the US.”

Steve Porto, Managing Director of Ares Infrastructure and Power, said “We are proud to once again work with GE Renewable Energy. We believe trusted partners are critical to building projects of this scale and delivering low cost energy to our customers and with an effort to deliver strong results for our investors.”

As previously announced, the wind farm will provide 126 MW of renewable energy to McDonald’s and approximately 175 MW to Facebook through separate power purchase agreements (PPAs).

GE Energy Financial Services (“GE EFS”) is providing tax equity for the project.

GE Renewable Energy was recognized by the American Clean Power Association (ACPA) as the top manufacturer of wind turbines in the US in 2020, for the third year in a row. Of the total onshore wind installed nationwide, ACPA reported that GE technology was deployed in 53% of new capacity additions, as well as in 31% of new projects under construction or in advanced development that have selected an OEM.