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Expanding its renewable energy portfolio in Texas, GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5-megawatt Capricorn Ridge wind farm in West Texas. The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy’s 1.5-megawatt machines, and 65 of Siemens’ 2.3-megawatt machines.
The project is located in Sterling and Coke counties in one of Texas’ Competitive Renewable Energy Zones (CREZ) – resource rich, high-wind areas in West Texas and the Texas Panhandle that will increasingly supply renewable energy to eastern Texas via new transmission projects.
The Capricorn Ridge project is capable of generating enough electricity to power more than 220,000 homes while avoiding more than 952,000 metric tons of greenhouse gas emissions per year – equivalent to taking approximately 186,000 cars off the road – according to US Environmental Protection Agency methodology.