State pension fund invests $15 million in wind farm
The New York State Common Retirement Fund invested $15 million in Invenergy’s High Sheldon Wind Farm, located in Wyoming County, through Credit Suisse Customized Fund Investment Group, State Comptroller Thomas DiNapoli announced Monday.
Invenergy’s High Sheldon Wind Farm’s 75 wind turbines began generating power in March and are feeding the energy to New York state’s electrical grid. The wind farm has the capacity to generate 112.5 MW of energy. As part of its In-state Private Equity Program, the Fund invested $15 million in the High Sheldon Wind Farm through its investment partner Credit Suisse.
The renewable energy generated by High Sheldon Wind Farm is delivered to the electrical grid through an underground collection system that moves energy from the wind turbines to an on-site substation. The wind farm interconnects to the transmission system of New York State Electric & Gas Company at a new switch station constructed adjacent to NYSEG’s 230 kilovolt No. 67 Stoelle Road — Meyer transmission line, and delivers its renewable energy for sale in the New York Independent System Operator market through this interconnection.
Through the In-state Private Equity Program, the Fund invests with private equity managers who seek to invest in companies in New York state that require capital for growth. The program, created in 1999, targets investment of state funds in the New York state economy. The program is designed to provide investment returns consistent with the risk of private equity while also expanding the availability of capital for New York businesses. The program aims to help generate jobs and private sector investment in the state.
23 June 2009
Tags: Wind power, Wind energy
Some possibly related stories:
- State retirement fund invests in Sheldon wind farm
- Invenergy secures Sheldon wind farm financing
- Wind industry changes names, games
- States get final word in energy projects; Ruling could affect Regional Interconnect transmission line plans
- Developers seeking to run power line through Madison County link their aims to Obama's
- PSC OKs renewable energy effort
The copyright of this article is owned by the author or publisher indicated. Its availability here constitutes a "fair use" as provided for in section 107 of the U.S. Copyright Law as well as in similar "fair dealing" exceptions of the copyright laws of other nations, as part of National Wind Watch's effort to advance understanding of the environmental, social, scientific, and economic issues of large-scale wind power development. For more information, click here.
