Citigroup & GE Finance Construction of Texas Wind Farm and 2 Other Hot Stocks to Watch
Citigroup Inc. (NYSE:C): Current price $49.52
Citigroup, along with General Electric Co., is financing the construction of a 218-megawatt wind farm in Texas some 30 miles east of Amarillo. Pattern Energy Group LP, which is a closely-held renewable energy firm backed by the private-equity investor Riverstone Holdings LLC, has initiated construction.
Once completed in August of next year, the Panhandle Wind Project will employ 118 GE turbines, Pattern released Tuesday in a statement. Financials of the deal were not reported but a Citigroup division, Citigroup Energy, will buy the power under a long-term arrangement.