Big news this morning out of General Electric (GE) and great news for the wind industry in general. The company is announcing it will supply what will be the world’s largest wind farm in Oregon called the Sheperds Flat project run by Caithness Energy. The deal calls for 338 wind turbines from GE between 2011 and 2012 with the project generating 845MW of energy at full capacity. The project is expected to inject $16 million of direct economic benefits each year and will employ 400 workers during construction and 35 once the project is completed. Construction is expected to begin next year.
Under a 20 year power purchase agreement, the wind farm will supply energy to Southern California Edison and be enough power for around 235K homes.
I’ll have more on this story later today.
Shares of General Electric (GE) are up about 1% in premarket trading.