A massive wind power project unfolding in Idaho has picked up some serious capital investment in the last week or so. The 183 MW project, which will consist of 11 wind farms and is believed to be worth almost half a billion dollars, first saw a majority equity interest investment from GE for an undisclosed amount. This was followed just a few days ago by a smaller $40 million buy in by Atlantic Power.
The combined millions being put into this project, which is being developed by Exergy Development Group, join other funds already invested. The wind farms from this project, which will make use of 122 of GE’s 1.5-megawatt turbines, will sell all of their power to Idaho Power Company under 20-year agreements, generating enough energy yearly to reportedly power approximately 39,700 average Idaho homes. That is seen as avoiding approximately 331,000 short tons a year in greenhouse gas emissions from more traditional power sources, which is the equivalent of taking about 57,000 cars off the road.
The wind farms will be located near Twin Falls, Idaho, and the projected completion date is by the end of this year. Around 175 construction jobs are being created and it is believed that a project of this size could “support the equivalent of over 2,200 full-time jobs in the United States for one year—about half of which would be in-state.”
“Through our investment in Idaho’s largest wind power portfolio, GE Energy Financial Services is putting millions of dollars to work to bring jobs and clean energy to Idaho and help the country meet growing demand for domestic, renewable sources of energy,” said Kevin Walsh, managing director and head of Power and Renewable Energy at GE Energy Financial Services, in a statement.