United States

United States

GE acquires majority stake in 250MW project

UNITED STATES: GE is acquiring a majority stake in the 250MW Buffalo Dunes wind farm in Kansas from Enel Green Power.

A rendering of Buffalo Dunes (GE 1.6MW turbines)
A rendering of Buffalo Dunes (GE 1.6MW turbines)

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This is the latest deal of this type between the two companies. Last year, GE took a stake in 235MW Chisholm View project in Oklahoma and the 200MW Prairie Rose wind farm in Minnesota.

Buffalo Dunes has a 20-year 202MW power purchase agreement (PPA) from the Alabama Power Company. However, Alabama Power had the option to exit the PPA if the developer failed to secure financial backing for the project.

GE will own 51% of the project while Enel has an option to increase its 49% stake to 75% between 2013-to-2014.

Buffalo Dunes has been developed by TradeWinds, which has had a strategic cooperation agreement with Enel since 2006.

In a statement, GE said it is to supply 135 1.6MW wind turbines to the project, taking the installed capacity to 216MW. The company did not say when it expected to install the remaining turbines. The project is expected to be completed by December.

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