Tuesday, April 07, 2009

GE invests $200M in NY Wind Parks

GE Energy Financial Services, a unit of General Electric Co., announced it provided more than $200 million to Noble Environmental Power, a wind energy developer, in long-term capital financing that includes three windparks in western and northern New York State.
Noble Environmental Power revealed that by replacing the construction financing, a syndicate of banks and financial institutions provided long-term debt including letters of credit of about $440 million for its 330-megawatt wind power projects at Noble Altona, Chateaugay and Wethersfield.
Kevin Walsh, Managing Director of Power and Renewable Energy at GE Energy Financial Services said, "Through this investment, GE Energy Financial Services is helping Noble move to the operating phase of this important New York state project and supporting the continued development of the US wind industry, which could provide a tremendous boost for our economy".
GE also indicated working with the federal government to adopt investment rules to further encourage renewable energy investment.

1 comment:

BeyondGreen said...

There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources. Create cheap clean energy, new badly needed green jobs and reduce our dependence on foreign oil.The high cost of fuel this past year seriously damaged our economy and society. The cost of fuel effects every facet of consumer goods from production to shipping costs. It costs the equivalent of 60 cents per gallon to charge and drive an electric car. If all gasoline cars, trucks, and SUV's instead had plug-in electric drive trains the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota.We have so much available to us such as wind and solar. Let's spend some of those bail out billions and get busy harnessing this energy. Create cheap clean energy, badly needed new jobs and reduce our dependence on foreign oil. What a win-win situation that would be for our nation at large! There is a really good new book out by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now. http://www.themanhattanprojectof2009.com