GE invests in Texas, Illinois wind projects

Stamford, Conn.-based GE Energy Financial Services announced that it is investing in two wind farms in Texas and Illinois, with both projects expected to produce 250 megawatts of power.

Chicago's Invenergy is developing the McAdoo farm in Texas and Grand Ridge project in Illinois.

"Keeping the wind energy industry strong means more jobs and economic opportunities while helping the United States increase its supply of renewable energy and reduce dependence on foreign energy sources," said Tim Howell, managing director and origination leader of renewable energy at GE Energy Financial Services.

The company, a unit of General Electric (NYSE: GE), did not disclose the financial details of the investment.

GE said the Texas wind farm would use 100 GE 1.5 MW turbines, with the Illinois project employing 66 of the same turbines.

Earlier this year, GE made an equity investment in Invenergy's 129 MW Forward Energy wind farm in Wisconsin, and previously invested in Invenergy's 120 MW Stanton wind farm in Texas.

GE said the McAdoo Texas farm and Grand Ridge Illinois project are expected to come online in the third quarter of 2008.