GE buys stake in new Enel wind power farm
(Reuters) - General Electric's Energy Financial Services has bought a 51 percent stake in a $375 million Oklahoma wind farm being built by Italy's Enel Green Power (EGPW.MI), the companies said on Monday.
The Chisholm View project, which will have a capacity of 235 megawatts, will be completed in 2012, allowing it to qualify for a federal subsidy that will expire at the end of the year.
Electricity from the project, which will use GE's 1.6-MW turbines, will be sold to Southern Co's (SO.N) utility Alabama Power Co under a 20-year contract.
GE's Energy Finance Services previously invested in wind projects in Kansas and Texas built by Enel Green Power, which is a unit of Italy's Enel Group (ENEI.MI).
(Reporting By Matt Daily; Editing by Maureen Bavdek)
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.