GE unit invests in wind farm

General Electric Co's Energy Financial Services has bought a 50 percent stake in a California wind farm that marks the first phase of a project that will eventually power 1.3 million California homes.

Bankers Commercial Corp., a unit of UnionBanCal, bought the other 50 percent stake in the Alta Wind I farm in Kern County, California. Terms were not disclosed.

The farm, which uses 100 GE 1.5 megawatt turbines, was completed late last year. It is being leased back to its developer and operator, Terra-Gen Power, marking the first time GE has used a lease for a wind farm, GE said.

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The city will provide electric energy capacity of about 42 megawatts to Hut 8 Mining Corp., which will construct bitcoin mining facilities near the city's new Unit 16 power plant.

The operation is expected to be running by September and will triple the company's operating power to 60.7 megawatts, Hut 8 said.

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