General Electric Co. (NYSE: GE) is taking a majority stake in eleven wind farms in Idaho, a project worth almost $500 million according Exergy Development Group, who is selling the assets to General Electric Co. (NYSE: GE).
Montana Wind Farm developer Exergy Development Group said that General Electric Co. (NYSE: GE) Energy will take a majority stake in its projects near Hagerman and Burley. Once the project is complete, it’s estimated that the plants could generate 183 MW of electricity which would be sold to Idaho Power Co.
Generous federal tax credit credits are available for companies such as General Electric Co. (NYSE: GE) to build alternative energy products like the Montana wind farms.
The win farms will be built with 122 GE-made 1.5-megawatt turbines. General Electric Co. (NYSE: GE) will operate and maintain the turbines for seven years and Exergy Development Group will maintain a minority owner.
