GE Purchases 51% Stake of Oklahoma Wind Farm, Now Owns 9.6 Gigawatts of Capacity
Investments in wind power seem to have a nice tailwind, so to speak. Warren Buffett's energy utility has been making big investments in wind (as well as solar), and now GE is making new investments too. One arm of the giant corporate octopus makes wind turbines, but another arm - GE Energy Financial Services - tries to make money by investing its capital in projects that it thinks will be successful and profitable. Apparently the Chisholm View wind farm in Oklahoma qualifies.
"General Electric Co. (GE), the largest U.S. turbine maker, agreed to pay about $191 million for 51 percent of a wind farm under construction in northern Oklahoma that will cost about $375 million. [...] The 235-megawatt Chisholm View project [...] will use 140 of GE’s 1.6-megawatt turbines."
This brings GE Energy Financial Services to 9.6 gigawatts of total wind power capacity. That's a very impressive number that I hope will keep growing fast!
The Oklahoma wind farm is expected to be finished by the end of the year. It'll be eligible for a 2.2 cents per kWh tax credit, which is pretty small considering how many direct and indirect subsidies fossil fuels have received over the past decades.
In any case, it's good to see GE keep investing more into clean energy. I don't like everything the company does, but I have to give credit where credit is due.