Deere May Sell $1B Wind Energy Business
After five years in the wind energy business, Deere & Company is contemplating the sale of its wind energy portfolio. In addition to several wind energy projects under development, the agricultural equipment maker has 34 wind energy projects in seven states with a total operational capacity of 706 megawatts (MW), according to a press release.
Goldman Sachs Group has been hired to help Deere review its options for its $1-billion wind energy portfolio, reports Reuters.
The U.S. wind industry installed nearly 10,000 MW of new generating capacity in 2009, which is enough to power over 2.4 million homes, according to the American Wind Energy Association (AWEA).
One of Deere’s latest wind projects, the Greensburg Wind Farm, consisting of ten 1.25 MW wind turbines, is expected to add to the generating capacity sometime in 2010.
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