Third Planet Windpower LLC will pay $350 million to a General Electric Co. subsidiary to supply it with 167 wind turbines for projects in Texas, New Mexico, Nebraska and Wyoming.
The San Ramon, Calif.-based wind power developer will use the 1.5-megawatt turbines in one or more new wind farms in each of the states. The projects will be ready for installation in 2009. In total, the GE Energy turbines will have the capacity to produce enough electricity for 60,000 to 75,000 homes.
The purchase agreement ensures the turbines will be available for the projects, hedging against the heavy wind turbine demand worldwide, said Peter J. Mastic, CEO of Third Planet Windpower.
24 October 2007
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