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GE Energy Invests in Idaho Wind Partners

07/01/2010
GE Energy Financial Services has invested in Idaho Wind Partners, Idaho's largest wind power project, which includes 11 wind farms and is valued at nearly half a billion dollars. GE will own a majority equity interest in the project, while developer Exergy Development Group and manager and operator Reunion Power will own minority interests.

"Through our investment in Idaho's largest wind power portfolio, GE Energy Financial Services is putting millions of dollars to work to bring jobs and clean energy to Idaho and help the country meet growing demand for domestic, renewable sources of energy," said Kevin Walsh, managing director and head of Power and Renewable Energy at GE Energy Financial Services.

The wind farms have 20-year agreements with the Idaho Power Company to sell all of the power they produce. The project is expected to qualify for a Federal Treasury Grant program for renewable energy. The wind farm will have a total capacity of 183 megawatts.

Construction began in the beginning of June, and some of the wind farms are expected to be complete by the end of the year. It will also create jobs, although GE did not disclose how many.

GE is now calling on Congress to establish a national renewable energy standard to stimulate growth of wind, solar, and other clean energy projects across the country.

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