GE Energy Financial Services acquires majority stake in US wind project

GE Energy Financial Services has acquired a majority stake of 51% in Enel Green Power North America’s Chisholm View wind project in Oklahoma, US for $375m.

The project which currently is under construction is located near Hunter, 85 miles north of Oklahoma City in Grant and Garfield counties.

The remaining 49% stake of the 235MW wind farm will be held by Enel Green Power North America, which will also serves as project manager.

Both the partners are later expected to raise tax equity for the wind farm.

The project will use 140 of GE’s 1.6MW wind turbines and will supply power to Alabama Power Company, a Southern Company subsidiary, under a 20-year agreement.

The wind farm is expected to be complete later this year ahead of the Federal Production Tax Credit deadline.

The Chisholm View wind project will contribute up to $5m to the local economy annually, according to Enel Green Power North America’s development partner TradeWind Energy.

The project is expected to displace 565,000 metric tonnes of greenhouse gas emissions annually.