Wednesday, February 17, 2010 at 11:50:45 AM - by TampaWebDesign

GE Energy Financial Services has announced it is making a $65 million investment in the construction of an Oklahoma wind farm capable of generating 152 megawatts of green energy.

The CPV Keenan II wind farm in Woodward, Oklahoma will be constructed by the CPV Renewable Energy Company, which is an affiliate of Competitve Power Ventures Inc and will cost an estimated $319 million.

GE Energy's $65 million investment, which has an option to increase to $100 based on the commencement of future commercial operations, will be joined by $212 million in a secured credit facility from The Bank of Tokyo-Mitsubishi and Union Bank.

Once completed, the wind farm is expected to generate enough solar energy to power 45,000 homes and cut 413,000 tons of greenhouse gas emissions annually

"CPV REC is focused on building a bridge to a better energy future through the development of leading-edge projects like Keenan II and working with forward-looking companies like GE," said Sean Finnerty, senior vice president of CPV REC.

GE Energy Financial Services currently invests in 47 wind farms across the country that can generate up to 6 gigawatts of green energy. They also hold loans on 36 other wind farms that generate up to 1.3 gigawatts.