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Petronas Halts all Imports of Iranian Crude in South Africa

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Acquisition of Maari 3D Seismic Survey Commences

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GE and JP Morgan Invest $225 Million in West Texas Wind Farm

Yesterday GE Energy Financial Services and JP Morgan announced that they are to join together to invest $225 million into the 662.5 megawatt Capricorn Ridge wind farm in West Texas.

The wind farm has been operating since 2007 and consists of 407 wind turbines, 342 1.5 megawatt turbines from GE Energy and 65 2.3 megawatt turbines from Siemens. Its 662.5 megawatt capacity is enough to provide electricity for 220,000 homes and reduces greenhouse gas emissions by 952,000 tonnes per year (equivalent to 186,000 cars off the road).

“We were uniquely suited to invest in this project alongside JP Morgan because of our Texas wind market expertise,” said Kevin Walsh, managing director and leader of power and renewable energy at GE Energy Financial Services.

“This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of GE’s broader ecomagination strategy.”

“GE Energy Financial Services has invested in 2,143 megawatts of wind farms in Texas – approximately 20 percent of the installed wind capacity in the state;” a significant proportion.

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