GE, UnionBanCal Unit Pick Up Calif. Wind Farm

Law360, New York (January 10, 2011, 1:40 PM EST) -- General Electric Co.'s Energy Financial Services unit has split the purchase of a California wind farm with UnionBanCal Corp. subsidiary Bankers Commercial Corp., furthering GE's foray into the wind energy market in that state.

GE and Bankers Commercial each picked up a 50 percent stake in the 150-megawatt Alta Wind I wind farm in Tehachapi, Calif., the companies announced Monday.

Financial terms of the deal were not disclosed, but the purchasers did say they are leasing the farm back to Terra-Gen Power LLC, the farm's developer,...
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