GE unit, Bankers Commercial acquire California wind farm
GE Energy Financial Services and Bankers Commercial Corp, a unit of UnionBanCal Corp, have acquired the 150MW Alta Wind I wind farm in Tehachapi, in Kern County, California.
GE Energy Financial Services and Bankers Commercial Corp, a unit of UnionBanCal Corp, have acquired the 150MW Alta Wind I wind farm in Tehachapi, in Kern County, California.
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GE unit and Bankers Commercial are leasing the wind farm back to its developer, operator and manager, Terra-Gen Power.
The wind farm, using 100 GE 1.5MW SLE turbines, was completed in the fourth quarter of last year.
GE Energy Financial Services and Bankers Commercial each own 50% of the wind farm.
The Alta Wind I farm is the first phase of the Alta Wind Energy Center, a planned 3,000MW project.
The first 1,550MW of the center, including this phase, is contracted to Southern California Edison.
The wind farms will help California meet its goal of ensuring that by 2020, 33% of the power it consumes comes from renewable sources.
Alta Wind I is the first project to connect with Southern California Edison's Tehachapi Renewable Transmission project, the first major transmission project in California to be constructed specifically for accessing a renewable-rich resource area.
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