Providing Capital and Technology, GE is Farming the Wind in America’s Heartland with Enel Green Power

  Providing Capital and Technology, GE is Farming the Wind in America’s
  Heartland with Enel Green Power

Business Wire

GARDEN CITY, Kan. -- April 8, 2013

Providing capital and technology to farm the wind in America’s heartland with
global renewable energy company Enel Green Power, GE (NYSE: GE) is investing
common equity and supplying turbines for the 250-megawatt  Buffalo Dunes Wind
Project in Kansas.

GE is providing capital and technology for a wind farm under construction in
Kansas that will harnes ...

GE is providing capital and technology for a wind farm under construction in
Kansas that will harness the wind in the American heartland to provide clean
electricity to the eastern United States. Link to digital rendering:
http://bit.ly/Z3p49j (Photo: Business Wire)

This transaction expands GE Energy Financial Services’ and Enel Green Power
North America’s portfolio of co-owned wind projects. Last year, the companies
invested in the 235-megawatt Chisholm View wind project in Oklahoma, and in
the 200-megawatt Prairie Rose wind project in Minnesota. Both projects also
feature GE wind turbines. The GE unit and Enel Green Power North America also
invested in the 101-megawatt Smoky Hills wind farm in Kansas and the
63-megawatt Snyder wind farm in Texas.

GE unit GE Energy Financial Services now owns 51 percent of the Buffalo Dunes
project under construction southwest of Garden City, Kansas in Finney, Grant
and Haskell counties. Enel Green Power North America, a subsidiary of Enel
Green Power, maintains a 49 percent ownership stake, retains an option to
increase this stake to 75 percent if elected during certain periods in 2013
and 2014, and serves as project manager. In addition to capital, GE is
supplying 135 wind turbines for the project and will provide operations and
maintenance after completion. Alabama Power Company will buy most of the
electricity from the project under a 20-year agreement.

“This project is a fresh example of how to harness the strong wind in
America’s heartland to power the eastern United States with low-cost, clean
electricity,” said Kevin Walsh, Managing Director of Power and Renewable
Energy at GE Energy Financial Services. “It also showcases GE’s ability to
provide both world-class technology and flexible financing structures, and
advances our long-term partnership with renewable energy leader Enel Green
Power.”

Construction, managed by RES Americas, is expected to be completed by
December. The wind project is expected to employ 150 construction workers,
create 15 permanent jobs, generate enough electricity to power 65,000 homes
and – according to Environmental Protection Agency methodology – avoid
approximately 800,000 tons of greenhouse gas emissions per year – equivalent
to the annual emissions from 153,000 US passenger vehicles.

GE Energy Financial Services’ global wind portfolio now comprises equity and
debt financings for projects spanning 17 US states and four other countries
totaling more than 10 gigawatts in operation or under construction. GE Energy
Financial Services’ wind investing supports GE’s broader ecomagination
strategy to create value for customers by solving energy, efficiency and water
challenges.

About GE Energy Financial Services

GE Energy Financial Services—GE’s energy investing business—works as a
builder, not just a banker, to help meet the world’s power and fuel needs.We
offer more than money—expertise—for essential, long-lived and
capital-intensive power, oil and gas infrastructure—GE’s core
business.Drawing on GE’s energy technical know-how, financial strength and
risk management, we see value where others don’t and take on our customers’
toughest challenges with flexible equity and debt transaction
structures.Based in Stamford, Connecticut, GE Energy Financial Services holds
an approximately $20 billion global energy portfolio. More information:
www.geenergyfinancialservices.com. Follow GE Energy Financial Services on
Twitter: @GEEnergyFinServ

About GE

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website atwww.ge.com.

Editor’s Note: Caption for accompanying photo: GE is providing capital and
technology for a wind farm under construction in Kansas that will harness the
wind in the American heartland to provide clean electricity to the eastern
United States. Link to digital rendering:
http://www.geenergyfinancialservices.com/images/Buffalo_Dunes_IMG1049_A0002_S_wind.jpg

TV news B-roll of a wind farm, from general archives, is available at
http://www.geenergyfinancialservices.com/RenewablesInvestments/default.asp

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130408006105/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50604770&lang=en

Contact:

GE Energy Financial Services
Andy Katell, 203-961-5773
 
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