GE (NYSE:GE) announced today it has received a $1.4 billion contract from independent power producer Caithness Energy to supply wind turbines and services for an 845-megawatt (MW) wind farm project to be located in Oregon.
The wind farm, called Shepherds Flat, has received the majority of the necessary government permits to operate and is ready to be built. When completed it will be larger than any wind farm currently in operation around the globe.
Stretching across 30 square miles of Gilliam and Morrow Counties in north-central Oregon, near the town of Arlington, the 845-MW Shepherds Flat project marks the US debut and largest single global order of GE’s 2.5xl wind turbines. A total of 338 turbines will be installed in 2011 and 2012.
Caithness Energy estimates that the $2 billion project will inject $16 million annually of direct economic benefits into Oregon, and will employ 400 workers during construction and 35 during operation. Construction will be on a grand scale not only because of the large number of turbines, but because 85 miles of road and 90 miles of power connection to the grid will be built.
Construction is scehduled to begin in 2010 and be completed in 2012.
GE Energy Financial Services–with a portfolio of more than 40 wind farms with a total capacity to produce more than 6 Gigawatts of electricity–is investing in the project.
In addition to supplying the wind turbines, GE will provide ten years of operational and maintenance services to the project.
The 2.5xl wind turbines for the Shepherds Flat wind farm will be assembled at GE’s site in Pensacola, Florida.
Under three 20-year power purchase agreements, the Shepherds Flat wind farm will supply renewable energy to Southern California Edison, an Edison International (NYSE:EIX) company.
Caithness Energy, LLC is a leader in the development, acquisition, operation, and management of renewable power generation and other clean energy projects in the United States. Caithness projects have included wind, solar, geothermal, and advanced technology combined cycle generation. The company was founded in 1964 and is headquartered in New York City.
Caithness recently partnered with Ocean Renewable Power Company (ORPC), as noted in a recent interview with ORPC CEO Chris Sauer on the Green Week in Review podcast.
Earlier this month GE Energy Financial Services announced a $117 million investment in an Oklahoma wind farm to be built by Horizon Wind Energy.
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