Daily Gazette

GE to spend $100M on N.Y. wind farms
Thursday, July 10, 2008

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General Electric Co. announced Wednesday that it will invest $100 million in three wind farm projects in New York state.

GE Energy Financial Services released details about the investment the conglomerate has made with its partner Noble Environmental Power. The three projects are the 106.5 megawatt Noble Chateaugay Windpark in Franklin County, the 97.5 megawatt Noble Altona Windpark in Clinton County and the 126 megawatt Noble Wethersfield Windpark in Wyoming County. According to GE officials when the three parks come online they will increase the wind producing capacity of New York state by 47 percent.

The $100 million investment also brings GE up to the $4 billion mark for investments in renewable energy projects, close the company’s goal of $6 billion by 2010.

“We have the $4 billion milestone just five months after hitting $3 billion, confirming that renewable energy is our fastest growing business,” GE Energy Financial Services President Alex Urquhart said.

According to company officials GE has invested or committed to invest equity in 76 wind farm projects throughout the world, with a potential capacity of 4,000 megawatts.

GE Energy’s Wind Product Management and Customer Support Center is located on its Erie Blvd campus in Schenectady. The construction of the center has led to GE hiring 150 white-collar workers to staff it as well as 500 new engineers dedicated to the company’s renewable energy headquarters, also located on Erie Blvd.


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