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Exelon completes purchase of John Deere wind unit  

Credit:  By Emily Bryson York, Chicago Breaking Business, chicagobreakingbusiness.com 10 December 2010 ~~

Exelon Corp. has completed its acquisition of John Deere Renewables, a wind power company. In so doing, Exelon adds 735 megawatts of clean, renewable energy to the utility’s portfolio, or enough to power up to 220,000 households.

Exelon is one of the nation’s largest utilities, with 5.4 million customers, and $17 billion in annual revenues.

The new division, to be called Exelon Wind, consists of 36 wind projects in eight states. This is the Chicago-based utility’s first ownership of a wind project. The operation is located in West Des Moines, Iowa.

In a statement Exelon chairman and CEO John W. Rowe described the purchase as “an economically sound transaction that adds value for shareholders,” while advancing the company’s goal of eliminating its 2001 carbon footprint by 2020.

According to the company, about 75 percent of Exelon Wind’s energy is already sold under long-term power purchase agreements. However, Exelon plans to pursue another 1,400 megawatts in new wind projects.

Source:  By Emily Bryson York, Chicago Breaking Business, chicagobreakingbusiness.com 10 December 2010

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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