GE invests $156M in Minnesota wind farm
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A unit of General Electric will invest $156 million in the Prairie Rose wind farm.
A General Electric Co. business unit will invest $156 million in the Prairie Rose wind farm, which is under construction in Southwestern Minnesota.
Edina, Minn.-based Geronimo Wind previously owned the wind farm. It announced Monday that it sold the project to a subsidiary of Enel Green Power, which already was an investor in Geronimo.
Enel then sold a 51 percent stake in the wind farm to GE Energy Financial Services for $156 million.
Enel paid $149 million for a 49 percent stake in the project, which it will manage. GE will supply the wind farm with 119 wind turbines under the terms of a deal it signed last year.
The project is expected to cost a total of $305 million. The wind farm is located in Hardwick, Minn.
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