GE, JPMorgan Invest $225M In Texas Wind Farm

Law360, New York (February 27, 2012, 2:11 PM EST) -- General Electric Co.'s energy financing arm and JPMorgan Chase & Co. have committed $225 million in tax-equity financing to the country's third-biggest wind farm, the companies said Monday.

NextEra Energy Resources LLC's 662.5-megawatt Capricorn Ridge project in west Texas has been in operation since 2007. The long-term financing will replace NextEra's own capital investments in the project, a NextEra spokesman said.

“We typically build wind projects on balance sheet and finance after the fact,” said Steven Stengel, a NextEra spokesman.

The project, which also uses GE's...
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