General Electric (NYSE:GE) Increases Stakes in Wind Farms

General Electric (NYSE:GE) boosted their position in wind farms by purchasing a stake in the Alta Wind I farm in Kern County, California.

It is part of a project which has the goal of powering 1.3 million homes in the region.

When completed, it should be a 3,000-megawatt project, of which the Alta Wind I farm is the first phase.

The acquisition was made via General Electric and Bankers Commercial Corp.'s energy financial services unit.

General Electric now has a 50 percent stake in the project. Terms of the deal weren't disclosed.

General Electric was trading at $18.57, gaining $0.14, or 0.76 percent, as of 11:26 AM EST.