Free press releases distribution network?

More news: Energy
Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Google, Itochu and Sumitomo Join GE and Developer Caithness Energy as Owners of World’s Largest Wind Farm in Oregon - Google and subsidiaries of ITOCHU Corporation and Sumitomo Corporation (TYO-8053) – have joined GE (NYSE: GE) unit GE Energy Financial Services and developer and managing member Caithness Energy
Google, Itochu and Sumitomo Join GE and Developer Caithness Energy as Owners of World’s Largest Wind Farm in Oregon

 

PRZOOM - /newswire/ - Arlington, OR, United States, 2011/04/18 - Google and subsidiaries of ITOCHU Corporation and Sumitomo Corporation (TYO-8053) – have joined GE (NYSE: GE) unit GE Energy Financial Services and developer and managing member Caithness Energy. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Expanding their renewable energy portfolios, three global companies – Google and subsidiaries of ITOCHU Corporation and Sumitomo Corporation (TYO-8053) – have joined GE (NYSE: GE) unit GE Energy Financial Services and developer and managing member Caithness Energy as owners of the world’s largest wind farm, the 845-megawatt Shepherds Flat wind project under construction near Arlington, Oregon.

Google, ITOCHU Corporation subsidiary Tyr Energy and Sumitomo Corporation subsidiary Sumitomo Corporation of America are investing approximately $500 million in the $2 billion project. Additional financial details of the transaction were not disclosed.

“The new investors contribute a wealth of energy expertise, innovation and strong financial profiles to the landmark Shepherds Flat wind farm project,” said Les Gelber, a partner at Caithness Energy.

The Shepherds Flat wind project stretches across 30 square miles of Gilliam and Morrow Counties in north-central Oregon. Once completed next year, the project will generate enough energy to supply more than 235,000 average US homes, and will avoid about 1.5 million tons of carbon dioxide per year, equivalent to the amount of carbon dioxide from approximately 260,000 passenger vehicles.

"As originally envisioned, we are drawing on our ability to attract more private capital to the US wind market by adding partners to the Shepherds Flat project,” said Alex Urquhart, president and CEO of GE Energy Financial Services, which announced its investment in the Shepherds Flat project in December 2009. “Such projects boost energy security and supply, create jobs, and build on our partnerships with Google, ITOCHU and Sumitomo.”

Participation in the Shepherds Flat wind farm broadens the renewable energy portfolio of its new investors:

• California-based Internet innovator Google has now invested over $350 million in the clean energy sector, including two recent investments in a German photovoltaic power plant, and BrightSource Energy’s Ivanpah Solar Electric Generating System, the world’s largest solar project, under construction in California.
• Tokyo-based ITOCHU Corporation owns, operates and is developing more than 15 power generation facilities across the United States through Tyr Energy. ITOCHU entered into a collaboration and cooperation agreement with GE last year to identify co-investment opportunities in renewable energy worldwide. Under the agreement, it partnered with GE Energy Financial Services on the 152-megawatt CPV Keenan II wind farm in Oklahoma.
• Tokyo-based Sumitomo Corporation has accumulated an approximately 5,300-megawatt global power generation portfolio, including assets owned by New York-based subsidiary Sumitomo Corporation of America. Sumitomo’s wind energy assets include the 120-megawatt Stanton, Texas wind farm jointly owned with GE Energy Financial Services, as well as two operating wind farms in Japan and one in China.

“We’re excited to be investing with strong partners in the largest wind farm project in the world,” said Rick Needham, Director of Green Business Operations at Google. “This project is particularly attractive because it deploys advanced turbine technology while delivering clean, renewable energy. We hope that our support for Shepherds Flat encourages more investment in this sector, and accelerates the development of clean energy resources across the country.”

Construction is proceeding in three phases. All turbine foundations have been completed and electrical work and road construction are nearing completion on the first 265-megawatt phase; road and turbine foundation construction is more than half complete on the second 290-megawatt phase; and road construction and foundation construction are continuing on the third 290-megawatt phase. Turbine shipments to the site are expected to begin this spring. Construction involves not only the erection of 338 turbines, but development of 95 miles of roads and 167 miles of transmission lines. Caithness Energy has estimated that the project will inject $16 million annually of direct economic benefits into Oregon, and will employ 400 workers during construction and 35 during operation.

Said Tyr Energy's president and CEO, Karl Usami,"As a long-standing and long-term investor and participant in the North American power generation industry, we are particularly pleased and excited about investing in this state-of-the-art wind power facility and working with all our partners to bring clean and reliable energy to the market, and important green energy jobs to our economy."

“The investment in the Shepherds Flat wind farm reinforces our commitment to ensuring a cleaner environment for all of us and future generations,” said Masao Miyamoto, Head of Power and Telecom Business, Vice President of Sumitomo Corporation of America. “We continue to look for similar opportunities where we can leverage our experience and know-how as a long-term strategic investor and work with strong partners on high-quality renewable energy projects in the advanced development or construction phase.”

The project will be the first wind farm in the United States to use GE Energy’s 2.5xl wind turbines, which are larger than its other models and use permanent magnet generators—turbine technology that improves efficiency, reliability and grid connection, helping to lower wind energy costs. The 2.5xl wind turbines for the Shepherds Flat wind farm are assembled at GE’s site in Pensacola, Florida. In addition to supplying the wind turbines, GE will provide operational and maintenance services to the project.

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, helping California meet its renewable energy goals.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its $21 billion in assets. GE Energy Financial Services is based in Stamford, Connecticut. For more information, visit geenergyfinancialservices.com/.

About GE
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.

About Caithness Energy
Caithness Energy, LLC is a pioneer 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.

About Google
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today (google.com) is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia.

About ITOCHU Corporation
With approximately 150 bases in 74 countries, ITOCHU, one of the leading sogo shosha (general trading companies), engages in domestic trading, import/export, and overseas trading of various products, such as textiles, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise and food, as well as finance, realty, insurance, and logistics services, and pursues business investment in Japan and overseas. In the U, S. power generation sector, ITOCHU also provides Operation & Maintenance service through NAES Corporation, with a workforce of more than 2,000 nationwide. Visit: itochu.co.jp/en/.

About Sumitomo Corporation of America (SCOA)
Sumitomo Corporation of America (sumitomocorp.com), with consolidated assets of $6.4 billion, is a wholly owned subsidiary of Sumitomo Corporation (SC), an integrated trading and investment enterprise engaged in multifaceted business activities, which include selling a variety of domestic products and services, conducting import/ export and trilateral business transactions, providing domestic and international business investment, and participating in numerous other profitable activities facilitated by its global network and the relationships of trust built with corporate business partners and consumers in various industrial sectors around the world.

About Sumitomo Corporation
Sumitomo Corporation is a leading general trading company, with 150 locations in 70 countries throughout the world. The entire Sumitomo Corporation Group ("the Group") consists of nearly 900 companies and more than 60,000 personnel. The SC business is continuously expanding into a diverse range of products and services. Its core business units are Metal Products; Transportation & Construction Systems; Infrastructure; Media, Network & Lifestyle Retail; Mineral Resource, Energy Chemical & Electronics; General Products & Real Estate; and Financial & Logistics. For more information, visit sumitomocorp.co.jp/english/.

Caption for accompanying photo: Google and subsidiaries of ITOCHU Corporation and Sumitomo Corporation have joined GE Energy Financial Services and Caithness Energy as owners of the world’s largest wind farm, the 845-megawatt Shepherds Flat wind project under construction near Arlington, Oregon. This photo shows workers using a backhoe to bury electrical cables that will carry the wind turbines’ power.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Google, Itochu and Sumitomo Join GE and Developer Caithness Energy as Owners of World’s Largest Wind Farm in Oregon

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
GE News Center |
Contact: Christa Bowers - GE Energy Financial Services 
203-961-2934 christa.bowers[.]ge.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From General Electric Company / Company Profile


Read Energy Most Recent Related Press Releases:

Enel Begins Operations At World’s First Commercial Geothermal-hydro Hybrid Power Plant
Vestas Secures 112 MW for Three Projects in France
ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  BizJobs.com

Visit  JobsWare.com







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today