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GE Energy Financial to Acquire Wind Farm

"This latest addition to our growing wind power portfolio is further evidence of our commitment to the European renewable energy market," said Andrew Marsden, managing director of GE Energy Financial Services' European operations.

NEW YORK (AP) - GE Energy Financial Services said Monday that it will buy a 12-megawatt wind farm in Germany -- its fourth wind investment in the country this year -- from Germania Windpark GmbH.

GE Energy Financial, a unit of conglomerate General Electric Co., did not disclose financial details of the transaction.

The Krusemark wind farm in Sachsen-Anhalt, near Berlin, consists of eight GE 1.5-megawatt turbines.

Germania, the project developer, will operate and maintain the facility, which was built this Spring and supplies power to the regional grid.

"This latest addition to our growing wind power portfolio is further evidence of our commitment to the European renewable energy market," said Andrew Marsden, managing director of GE Energy Financial Services' European operations.

The Krusemark wind farm annually produces power sufficient for about 10,000 homes and saves approximately 35,000 tons a year in greenhouse gas emissions, compared with equivalent fossil fuel generation, said the Stamford, Conn.-based company.

The transaction is the fourth wind energy investment and seventh wind farm that GE Energy Financial Services acquired in Germany this... more [truncated due to possible copyright]  
NEW YORK (AP) - GE Energy Financial Services said Monday that it will buy a 12-megawatt wind farm in Germany -- its fourth wind investment in the country this year -- from Germania Windpark GmbH.

GE Energy Financial, a unit of conglomerate General Electric Co., did not disclose financial details of the transaction.

The Krusemark wind farm in Sachsen-Anhalt, near Berlin, consists of eight GE 1.5-megawatt turbines.

Germania, the project developer, will operate and maintain the facility, which was built this Spring and supplies power to the regional grid.

"This latest addition to our growing wind power portfolio is further evidence of our commitment to the European renewable energy market," said Andrew Marsden, managing director of GE Energy Financial Services' European operations.

The Krusemark wind farm annually produces power sufficient for about 10,000 homes and saves approximately 35,000 tons a year in greenhouse gas emissions, compared with equivalent fossil fuel generation, said the Stamford, Conn.-based company.

The transaction is the fourth wind energy investment and seventh wind farm that GE Energy Financial Services acquired in Germany this year, bringing the total capacity of its holdings there to 166 megawatts, the company said.

Shares of GE rose 30 cents to $35.80 on the New York Stock Exchange

Source: http://news.moneycentral.ms...

DEC 6 2005
https://www.windaction.org/posts/603-ge-energy-financial-to-acquire-wind-farm
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