February 28, 2012 / 12:53 PM / 8 years ago

GE unit and JP Morgan invest in NextEra Texas wind farm

* GE and JP Morgan invest $225 mln in wind farm

* Capricorn Ridge wind farm is 662.5 MW

* Wind farm entered service in 2007

Feb 28 (Reuters) - General Electric unit GE Energy Financial Services said it joined U.S. bank JPMorgan Chase to jointly invest $225 million in a partnership that owns the 662.5-megawatt (MW) Capricorn Ridge wind farm in West Texas.

A unit of Florida energy company NextEra Energy remains the majority owner and operator of the project.

GE Energy Financial did not disclose additional financial details of the transaction in its press release on Monday.

The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy`s 1.5-MW machines and 65 of German multinational conglomerate Siemens AG’s 2.3-MW machines.

The project is located in Sterling and Coke counties in West Texas and is capable of generating enough electricity to power more than 220,000 homes.

Including Capricorn Ridge, GE Energy Financial said it has invested in 2,143 MW of wind farms in Texas, which is about 20 percent of the roughly 10,200 MW installed wind capacity in the state.

GE said it was the unit’s second major investment with NextEra.

NextEra owns about 8,500 MW of wind and 160 MW of solar power, making it the largest renewable energy generator from the wind and sun in North America.

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