Fair winds: GE invests $300 million in Houston-based power firm

[OKIsItJustMe]

http://www.chron.com/disp/story.mpl/business/energy/5454121.html

Jan. 14, 2008, 8:14PM

Fair winds: GE invests $300 million in Houston-based power firm

By TOM FOWLER
Houston Chronicle Copyright 2008

This was a good day for the wind power business with GE announcing a $300 million investment in Houston-based Horizon Wind and a controversial project off Cape Cod, Mass. clearing another regulatory hurdle.

GE Energy Financial Services, along with a Wachovia Corp. subsidiary, will take a stake in a 600-megawatt portfolio of projects being developed by Horizon in Oregon, Minnesota, Illinois and Texas.

All of the projects except the one in Texas are either operating or expected to start up this month. The Texas project, in Shackelford County with an expected capacity of 200 megawatts, should be running by mid-year, the companies said.

Also today, the U.S. Minerals Management Service said a proposed wind farm off Cape Cod would pose no major environmental problems, the Associated Press reported, giving a boost to the project that has sparked a long and bitter public fight.

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