Good Energies, Continental Wind buying GE turbines

Investment group Good Energies and renewable energy fund Continental Wind Partners announced a deal to buy up to 150 wind turbines from GE Energy for use in wind farms in in Poland, Romania and other central and eastern European countries.

The contract for 375 megawatts of turbines is valued at $574.3 million, with delivery expected to start in the spring of 2009.

Good Energies, which has offices in Europe and North America, is one of the founders of Continental Wind Partners.

"Good Energies is pleased to have secured a major tranche of turbine production in a market where demand is increasing and some projects may be at risk for want of supply," said Andrew Lee, managing director of Good Energies in London.

"We look forward to working with GE Energy and CWP in the realisation of our wind farms in Central Europe and we expect further orders to follow."

Continental Wind, which operates in central and eastern Europe, said the group plans to have 600 MW of wind farms permitted in Romania by the end of 2008, and 280 MW fully permitted in Poland the following year.

Adam de Sola Pool, CEO of Continental Wind said "we have pre-ordered cables and transformers for our active projects with the assistance of Good Energies."

The total development pipeline of Good Energies and its portfolio companies is approximately 3,000 MW in wind and solar projects.

Cleantech developments making news in the past 24 hours

• Metabolix, ADM to open new bioplastics factory
• Rockwool nears construction on Indian insulation factory
• Two Israeli wastewater firms to locate in Michigan
• Al Gore: Super grid is critical to combating the climate crisis
• A quest for CO2 and O2 optimal management with biofuel from algae

View the last week of cleantech developments here | Subscribe to full feed