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GE and JP Morgan invest $225m in NextEra project

UNITED STATES: GE and JP Morgan has teamed up to jointly invest $225 million in NextEra's 662.5MW Capricorn Ridge project in Texas.

NextEra's Capricorn Ridge project
NextEra's Capricorn Ridge project

Under the deal, NextEra will remain the majority shareholder in the project. The project, which has been in operation in 2007, uses 342 GE 1.5MW and 65 Siemens 2.3MW turbines.

Additional details of the deal were not disclosed.

Capricorn Ridge is located in central Texas, in Sterling and Coke counties. The project is in one of Texas' Competitive Renewable Energy Zones.

GE said the deal takes its total wind investment in Texas to 2.1GW, around 20% of the state's capacity.

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