GE unit buys stake in wind energy project

GE Energy Financial Services, a unit of GE (NYSE: GE), bought a 51 percent stake in the 235-MW capacity Chisholm View wind project in Oklahoma. Enel Green Power North America owns the remaining 49 percent interest.

The $375 million project is expected to be completed in late 2012 and will use 140 GE 1.6 MW wind turbines. Alabama Power Co., a unit of Southern Co. (NYSE: SO) signed a 20-year power purchase agreement for the output from the plant. TradeWind Energy is the strategic development partner for the project.

GE Energy Financial Services has previously invested with Enel Green Power in a 101-MW wind farm in Smoky Hills, Kan., and a 63-MW wind farm in Scurry County, Texas.

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