Providing Capital and Technology, GE Advances Partnership with Enel Green Power to Build One of Minnesota’s Largest Wind Farms

Press release:

06 August 2012

Providing Capital and Technology, GE Advances Partnership with Enel Green Power to Build One of Minnesota’s Largest Wind Farms

 

HARDWICK, Minn., Aug 6, 2012 – Expanding its partnership with global renewable energy company Enel Green Power, GE (NYSE: GE) unit GE Energy Financial Services has committed approximately $156 million in common equity for one of Minnesota’s largest wind farms, using GE turbines.

The GE unit now owns 51 percent of the 200-megawatt Prairie Rose wind project under construction in southern Minnesota. Enel Green Power North America, a subsidiary of Enel Green Power, committed approximately $149 million for a 49 percent ownership stake and serves as project manager. In addition to capital, GE signed an agreement last year with Enel Green Power North America to supply 119 of GE’s 1.68-megawatt wind turbines for the project.

The GE unit and Enel Green Power North America also raised approximately $190 million in tax equity to be provided by a syndicate led by J. P. Morgan, which includes Wells Fargo Wind Holdings LLC and Metropolitan Life Insurance Company. The tax equity will be funded at project completion and will reduce both GE Energy Financial Services’ and Enel Green Power North America’s ownership stakes in the wind farm.

“This transaction showcases GE’s ability to provide both world-class technology and flexible financing structures for our customers and advances our long-term partnership with Enel Green Power, an established renewable energy leader,” said Kevin Walsh, Managing Director of Power and Renewable Energy at GE Energy Financial Services.

The project, which is expected to cost approximately $305 million, is located near Hardwick, northwest of Luverne. Construction, managed by Minneapolis-based Mortenson Construction, is expected to be completed later this year. The wind farm will supply all of its power to Northern States Power Company, a subsidiary of Xcel Energy, under a 20-year contract. Enel Green Power North America will have the option to purchase up to an additional 26 percent ownership stake from the GE unit later in 2012 and in 2013.

The benefits of the wind project are wide-ranging. The project’s Edina-based developer and Enel Green Power’s strategic partner, Geronimo Wind Energy, estimates that the wind farm will create approximately 300 construction jobs, contribute about $850,000 annually in new county and township taxes and create about a dozen permanent jobs. Prairie Rose is expected to generate enough electricity to power 75,000 homes and displace approximately 650,000 tonnes of greenhouse gas emissions per year – equivalent to taking approximately 130,000 cars off the road – according to US Environmental Protection Agency methodology. In addition, the wind farm will help Minnesota meet its mandate to generate 25 percent of its electricity from renewable sources by 2025.

This transaction expands GE Energy Financial Services’ and Enel Green Power North America’s portfolio of co-owned wind projects. In April, the companies invested in the 235-megawatt Chisholm View wind project under construction near Hunter, Oklahoma, which also will use GE wind turbines. The GE unit and Enel Green Power North America also invested in the 101-megawatt Smoky Hills wind farm in Kansas and the 63-megawatt Snyder wind farm in Texas.

GE Energy Financial Services’ global wind portfolio now comprises equity and debt financings for projects spanning 17 US states and four other countries totaling 9.9 gigawatts in operation or under construction. GE Energy Financial Services’ wind investing supports GE’s broader ecomagination strategy to create value for customers by solving energy, efficiency and water challenges.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally across the capital spectrum in essential, long-lived, and capital-intensive energy assets that meet the world’s energy needs. In addition to capital, GE Energy Financial Services offers the best of GE’s technical know-how, technology innovation, financial strength, and rigorous risk management. Based in Stamford, Connecticut, the GE business unit helps its customers and GE grow through new investments, strong partnerships, and optimization of its approximately $20 billion in assets. For more information, visitwww.geenergyfinancialservices.com.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Wind Turbines to Power Comexhidro Wind Farm in Santa Catarina, Mexico

Press release:

26 July 2012

GE Wind Turbines to Power Comexhidro Wind Farm in Santa Catarina, Mexico

 

• Eight GE 2.75-Megawatt Turbines Will Generate Clean Energy for Public Lighting in Santa Catarina
• The Mexican Wind Energy Association Estimates the Country’s Wind Energy Potential at More than 50,000 Megawatts
• GE is Celebrating a Decade in the Wind Industry with 18,000 Wind Turbines Installed Worldwide

MEXICO CITY, MEXICO—July 26, 2012—GE (NYSE: GE), a leading global provider of wind energy, will provide Comexhidro eight 2.75-megawatt (MW) wind turbines that will generate clean energy for public lighting in the municipality of Santa Catarina, Nuevo León. The wind farm will help Santa Catarina, Nuevo León, reduce greenhouse gas emissions equivalent to the amount produced by 10,000 cars a year. Comexhidro, the Mexican hydroelectric company, is leading the project’s construction and operation and Conduit Capital Partners is investing in the project.

"Through the perfect combination of GE’s technology and innovative solutions, combined with our local knowledge and experience of the grid, we will be able to offer important environmental benefits and a technological solution to meet the needs of the community for an efficient and sustainable energy supply," said Carlos Jinich, general manager, Comexhidro.

GE announced this project today at its Mexico Wind Energy Forum, where civic and industry leaders discussed the opportunities and challenges of wind power in Mexico. The Mexican Wind Energy Association estimates the country’s wind energy potential at more than 50,000 MW.

"This project is a breakthrough for the country. It supports the government’s commitment to increase investment in research and infrastructure and encourage private investors to produce clean energy and help reverse the effects of climate change. This strategic vision coincides with the strong commitment of GE in innovative solutions that solve today's environmental challenges and benefit society," said Héctor Villegas, sales director of GE’s renewable energy business in Mexico.

This year, GE is celebrating a decade in the wind industry with more than 18,000 wind turbines installed worldwide that generate 28 gigawatts of power. In Mexico, GE employs more than 4,600 people, 8,800 more through its joint ventures and has 13 manufacturing plants and the largest center for advanced engineering in the country, focused on the design of energy projects. Recent energy projects announced in country using GE equipment will generate roughly 2,000 MW, or the equivalent of powering 22 million Mexican households.

About Comexhidro
Comexhidro is a Mexican hydroelectric developer and works by developing and operating hydroelectric generation projects to increase the electricity capacity in the country, save nonrenewable resources and support municipal public lighting, through a self-supply scheme.

About Conduit Capital Partners
Conduit Capital Partners is an investment firm focused on private equity investment opportunities, presented by industry of independent power in Latin America and the Caribbean.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.

Follow GE’s renewable energy business on Twitter @GErenewables.

For further information, please visit: www.ge.com/mx/ or www.ge-energy.com/wind

GE Pursues Its Global Growth, Reinforces Commitment to ecomagination with Latest Wind Farm through Gama Enerji

Press release:

24 July 2012

GE Pursues Its Global Growth, Reinforces Commitment to ecomagination with Latest Wind Farm through Gama Enerji

ALİAĞA, İzmir, Turkey – July 24, 2012 - GE (NYSE: GE) unit GE Energy Financial Services is pursuing its global growth, reinforcing the company’s ecomagination initiative and increasing renewable energy in Turkey by completing the country’s newest wind farm – the Karadağ Wind Power Plant – through GAMA Enerji A. Ş., the GE unit’s joint venture with GAMA Holding A.Ş. This project is the joint venture’s second wind farm in Turkey.

Located in the city of İzmir in the Aegean region, the 10-megawatt wind project began generating electricity on July 4, 2012. Four 2.5-megawatt GE turbines, which just surpassed two gigawatts of installed capacity worldwide, are in use at the site. GAMA Enerji’s other wind farm, the 22.5-megawatt Sares wind farm, uses nine 2.5-megawatt GE turbines and began commercial operations in March 2011.

“Our partnership with GAMA reinforces our commitment to investing in and building our presence in the global renewable energy market,” said Andrew Marsden, managing director, Europe at GE Energy Financial Services. “Additionally, we are proud to support our ecomagination program by assisting Turkey’s efforts to diversify its energy sector.”

The joint venture supports two GE strategies: growth in Turkey and renewable energy. Turkey is a strategic growth area for GE, which has been investing in the country for more than 60 years. Meanwhile, GE reports US $21 billion in ecomagination revenues for 2011 and US $105 billion in sales since the program’s launch in 2005. Ecomagination is GE’s commitment to solving the world’s toughest environmental challenges through its innovative products and services, including GE’s 2.5-megawatt turbine.

With the approval of Turkey’s Ministry of Energy and Natural Resources, the Karadağ wind farm commenced commercial operation, furthering Turkey’s goal of generating 30 percent of its energy from renewables by 2023. GAMA Enerji estimates that Karadağ and Sares will generate enough electricity to power 59,000 average Turkish homes and avoid 80,000 tons of greenhouse gas emissions a year.

GE Energy maintains the Karadağ and Sares wind farms under a services agreement, while GAMA Enerji operates them. With a diverse production portfolio and numerous renewable energy investments, GAMA Enerji aims to become an investor across the electricity generation spectrum and increase its total capacity to 2.5-gigawatts.

With a history in Turkey since 1948, GE’s footprint in the country includes significant partnerships in aviation, energy, lighting, healthcare, transportation and research and development. With six facilities and over 600 employees, GE today powers nearly 25 percent of Turkey’s electricity needs and has provided engines for 60 percent of the airplanes in the country and 20,000 GE Healthcare technologies, which are used daily across various hospitals.

About GAMA Enerji A.Ş. 
GAMA Enerji was formed with a platform of power and water infrastructure assets that were completed by GAMA under a Build-Operate-Transfer model. GAMA Enerji owns equity in projects which have total electricity capacity of 1,620 MW, and water conveyance capacity of 242 million m3/year. GAMA Enerji continues to develop and invest in power and water infrastructure projects in Turkey and the surrounding region. For more information, visit www.gama.com.tr/energy

About GAMA Holding
GAMA was established in Turkey in 1959 and has become a leading international contractor with operations in 17 countries extending from Ireland in the west to Russia’s Sakhalin Island in the east. GAMA Holding Companies presently have contracts in 9 countries valued approximately USD $4.6 billion. Besides serving as an EPC supplier of power plants and a general contractor of industrial facilities, GAMA’s core business includes energy investments, managed by its subsidary GAMA Enerji A.Ş. For more information, please visit www.GAMA.com.tr

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally across the capital spectrum in essential, long-lived, and capital-intensive energy assets that meet the world’s energy needs. In addition to capital, GE Energy Financial Services offers the best of GE’s technical know-how, technology innovation, financial strength, and rigorous risk management. Based in Stamford, Connecticut, the GE business unit helps its customers and GE grow through new investments, strong partnerships, and optimization of its approximately US $20 billion in assets. For more information, visitwww.geenergyfinancialservices.com.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE’s 2.75-Megawatt Wind Turbine Technology to Power New Wind Farm on Sweden’s West Coast

News release:

02 July 2012

GE’s 2.75-Megawatt Wind Turbine Technology to Power New Wind Farm on Sweden’s West Coast

 

• Swedish Energy Developer Triventus to Install GE’s Wind Turbines near Falkenberg
• Triventus Wind Farm Scheduled to Begin Operating in Second Quarter of 2013
• Project Illustrates Growing Popularity of GE’s Wind Energy Technology in Sweden

SALZBERGEN, GERMANY—July 2, 2012—GE (NYSE: GE) today announced that Swedish energy developer Triventus Wind Power AB will use GE’s proven wind turbine technology to power a new 27.5-megawatt (MW) wind farm project being built near Falkenberg on Sweden’s west coast.

GE will supply Triventus with 10 of its 2.75-103 wind turbines. When it begins operating, the wind farm will generate enough renewable electricity to power the equivalent of 7,500 houses in Sweden. Like other Swedish wind farms, the Triventus project will be supported through the country’s green certificate support system.

Most of Sweden’s domestically generated energy traditionally has been produced by nuclear power plants and hydroelectric facilities. However, to comply with the European Union’s Renewables Directive, Sweden is working to expand wind farm installations throughout the country, according to the Swedish Wind Energy Association.

“Given Sweden’s need to expand the role of wind energy, GE’s wind turbine technology has a proven track record of reliability and efficiency to ensure our project is successfully implemented on schedule,” said Linda Pålsson, MD Triventus Wind Power.

GE Energy will deliver the wind turbines to the project site during the first and second quarters of 2013. The wind farm is scheduled to begin commercial service in the second quarter of 2013. GE Energy also will provide maintenance support to the units under a five-year service agreement.

The Triventus project is located close to two other wind farms that also are powered by GE’s wind turbines, illustrating the widespread acceptance of GE’s wind technology in the country.

"With the 2.75 turbine, Triventus is investing into a technology that is built on the proven 2.5 platform. The solid design of this platform ensures high availability rates and with that supports the country’s renewables targets in the long run,” said Stephan Ritter, GE’s general manager for renewable energy in Europe.

In 2011, GE announced that Stena Renewable Wind Energy Company would deploy 40 of GE’s 2.5-100 units for four new wind farms in the southern Swedish municipalities of Laholm Boxholm and Mjölby.

Also in 2011, GE and Göteborg Energi began installing a 4.1-113 offshore turbine in the Gothenburg harbor in in Risholmsvägen, marking the first commercial application of GE’s 4.1-MW technology. The new turbine, which produces enough electricity to supply 3,000 Swedish homes per year, recently completed its first test run with an availability rate of over 99 percent. The test run was conducted in cooperation with Göteborg Energi and Gothenburg-based Chalmers University.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy and water-intensive industries such as mining, metals, marine, petrochemical, food and beverage and unconventional fuels.

Follow GE Energy on Twitter @GE_Energy.

Scientists Find Night-Warming Effect Over Large Wind Farms in Texas

For article on possible effects of wind farms on ground temperature published by the National Science Foundation, click the link below:

http://www.nsf.gov/news/news_summ.jsp?cntn_id=123998&WT.mc_id=USNSF_51&WT.mc_ev=click

GE PulsePOINT* Technology Helps Wind Operators Reduce Costs and Achieve Optimal Energy Production

25 April 2012

GE PulsePOINT* Technology Helps Wind Operators Reduce Costs and Achieve Optimal Energy Production

 

• New Service Detects Turbine Anomalies, Offers Corrective Actions
• Key Benefits Include Reduced Turbine Operating Costs, Increased Output
• Capability Included as Part of All Existing GE Wind Service Operations and Maintenance Agreements
• Latest Expansion of GE’s Suite of Wind Services

SCHENECTADY, N.Y.—April 25, 2012—GE (NYSE: GE) today announced a new technology that can help give wind farm operators a competitive edge by identifying problems with wind turbines before they can cause downtime or major failures. Using advanced software, GE’s innovative PulsePOINT* Advanced Monitoring and Diagnostic Services help operators reduce costs and achieve optimal energy production by increasing wind turbine reliability and availability.

PulsePOINT incorporates advanced GE-proprietary anomaly detection algorithms with SCADA data and GE Bently Nevada condition monitoring equipment (if installed on the turbine). The system collects wind farm and fleet data from hundreds of turbine sensors and key SCADA control parameters. Currently running more than 150 unique rules and algorithms 24 hours a day, PulsePOINT detects and prioritizes anomalies in wind turbine operations and identifies the proper course of corrective action. This includes identifying wind turbines that are underproducing to ensure customers are achieving optimal energy production.

“PulsePOINT is just the latest example of how GE continues to expand our suite of service offerings, to provide even stronger support for our customers in the wind industry,” said Andy Holt, Wind Services general manager for GE Power & Water. “We are committed to developing new technologies that will further enhance the reliability and productivity of our wind turbines worldwide.”

This technology was developed over the past several years, with an investment of more than $3 million. PulsePOINT is currently operating on data from more than 12,000 wind turbines worldwide in GE’s fleet. Warrantied owners, operations and maintenance, full-service agreement and Bently Nevada condition monitoring customers receive the full capabilities of the services.

With years of experience in monitoring and prognostics of jet engines, helicopters, locomotives and oil and gas rotating equipment, GE wind customers benefit from the expertise and synergies across a number of GE businesses. PulsePOINT technology applies proprietary algorithms developed through a joint effort between GE’s wind business and GE Aviation Systems, using a combination of SCADA data, Bently Nevada ADAPT.wind condition monitoring equipment (if installed on the turbine) and other key inputs to monitor and prioritize turbine health. Further capabilities are planned to optimize maintenance.

GE’s wind service solutions are supported by the company’s advanced technology, global resources and service facilities and a network of skilled, highly trained local technicians who are closely connected to GE’s engineering organization. GE full service agreements also give customers access to GE’s suite of turbine upgrades that are based on new product evolutions and the in-depth product knowledge that only an original equipment manufacturer can provide.

* Trademark of the General Electric Company.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.

Feds Approve Transmission Line for Wind Project in East Oregon

The following excerpt is from the January 7 djcoregon.com.

Feds approve transmission line for wind project in East Oregon

A $300 million wind project proposed in the high desert of Harney County is one step closer to construction thanks to recent federal approval for a 46-mile, 230-kilovolt transmission line.

The transmission line last week won support from the U.S. Department of the Interior – a crucial green light for the proposed 104-megawatt Echanis wind project. But concerns continue to be raised by groups that have opposed development within the scenic region that surrounds Steens Mountain.

 For details, click the link below:

http://djcoregon.com/news/2012/01/04/feds-approve-transmission-line-for-wind-project-in-east-oregon/

(Archive Article) Huge Wind Turbine Farm Opens Off Southeast England

I will be uploading a series of New York Times articles that I downloaded from my Kindle over the past couple of years.  One thing that I really appreciate about the New York Times articles is that they include numbers.  We simply must have some numbers relating to amount of power generated, area occupied, construction costs, operating costs, etc. if we are to have intelligent discussions about renewable energy and possible alternatives.

Unfortunately, this article contains no cost data, but other data are presented, and that is a start.

Huge Wind Turbine Farm Opens Off Southeast England 

Published September 23 or 24, 2010

By JULIA WERDIGIER

LONDON — The world’s largest offshore wind turbine farm, with a capacity to power more than 200,000 homes for a year, opened on Thursday off the coast of southeast England.

The wind farm is operated by Vattenfall, a Swedish energy company, and has 100 turbines spread over 13.5 square miles. At 377 feet tall each, the turbines are visible from the coast in Kent. The wind farm took more than two years to build and is expected to generate 300 megawatts of electricity.

Vattenfall’s turbines mean that power generated from wind can reach five gigawatts in Britain, enough “to power all homes in Scotland,” Chris Huhne, Britain’s energy secretary said in a statement.

“We’re in a unique position to become a world leader in this industry,” Mr. Huhne said. “We are an island nation, and I firmly believe we should be harnessing our wind, wave and tidal resources to the maximum.”

The British government has said it aims to support the renewable energy industry to achieve its goal to get 15 percent of energy from sources like wind farms by 2020. The efforts have focused mainly on wind power in recent years. Wind accounts for about 4 percent of Britain’s electricity needs.

Some industry executives feared that more government investment would be threatened in October, when the coalition government presented its program of spending cuts intended to reduce the budget deficit.

Britain has about 260 wind farms operating across the country and off its coasts.

Vattenfall operates 700 wind turbines in countries including Sweden, Germany, Poland and Britain.

The British wind farm is part of Vattenfall’s plan to double its electricity generated from wind power from 2009 to 2011 by building nine wind farms in six countries.
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