Latest Orders Push Wind Capital Group's Portfolio to 500 MW
The Wind Capital Group has placed orders with General Electric Co. (NYSE: GE) to provide wind turbines for two new wind farms scheduled to be online next year.
The companies came to sales agreements that will add a combined 350 MW of wind energy to Wind Capital's generation portfolio.
GE will deliver 134 1.5-82.5 wind turbines for the 201 MW Post Rock project in Kansas. In May 2011, Wind Capital received approval from the Kansas Corporation Commission to sell the electricity generated at the Post Rock Wind Energy Facility to Westar Energy Inc. (NYSE: WR) through a long term power purchase agreement.
GE will also supply 94 1.6-100 wind turbines for the 150 MW Osage project in Oklahoma. Two weeks ago, Wind Capital signed a power purchase agreement with Missouri-based Associated Electric Cooperative, Inc. for the sale of all of the energy generated at the Osage wind facility.
These orders mark the second and third Wind Capital projects that will be powered by GE wind turbines. The first sales agreement signed in 2008 resulted in the 150-megawatt Lost Creek project in Missouri which Wind Capital claims runs at 98 percent availability.
When these projects come online in 2012 Wind Capital's wind U.S. generation capacity will reach 500 MW. It has taken just seven years for Wind Capital, which formed in 2005, to reach this landmark and according to CEO Ciaran O'Brien the company has no intentions of slowing down
"At a time when many energy projects around the country are on hold, Wind Capital Group is making substantial investments and expanding our operations," said O'Brien.
He added, "This turbine acquisition sends a clear signal that we have a pipeline of high-quality development projects that we are continuing to translate into strong commercial assets."
