Siemens Developing California Wind Project

| About: Siemens AG (SIEGY)

Siemens Energy (SI) and Pattern Energy will jointly develop a 265-MW wind project in California. The Ocotillo wind farm is already under development and should begin operations by 2013.

This is the 10th project that Pattern Energy has had a hand in, whether in process, completed, or under contract. The Ocotillo deal terms include a service agreement for a two-year period.

Siemens has been steadily increasing its wind operations on a global scale. Just recently it invested in the El Arrayan wind facility in Chile, which provides a five-year service contract and has development slated for 2013 with operations beginning in the winter of 2013 or the following year.

From CleanTechnica.com:

'We are very pleased to once again partner with Pattern Energy on another of its wind projects. Our U.S. factories will supply the blades and the majority of the nacelles and hubs for the Ocotillo Wind project, and we will also export components to Chile,' said CEO of Siemens Energy’s Wind Power Americas Business sector Mark Albenze.

Siemens’ renewables portfolio showed revenues of 30 billion euros ($38.2 billion) in 2011. Collectively speaking, their investments have removed some 320 million tons of carbon dioxide from the planet’s atmosphere.