USA - GE Energy Finances Wind Farm in Hawaii

GE Energy Financial Services, a unit of conglomerate General Electric Co., said last week that it is financing the construction and operation of Tawhiri Power LLC's 21-megawatt wind farm in Hawaii. The wind farm will annually produce electrical energy estimated to be sufficient for more than 10,000 homes. It will also cut greenhouse gas emissions by more than 22,000 tons per year, compared with equivalent fossil fuel generation, the company said. GE is providing debt and equity financing for the Pakini Nui wind project at South Point. The company would not disclose further financial details. Hawaii Electric Light Co. is serving as the project's power purchaser. Hawaii's renewable portfolio standard requires each utility in the state to obtain 20 percent of its electricity sales from renewable energy sources by 2020. Tawhiri Power is a division of Apollo Power Corp.