Enel Green Power Purchases Renewable Developer Tradewind Energy

by | Mar 28, 2019

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Enel Green Power Purchases Renewable Developer Tradewind Energy

(Photo Credit: Enel Green Power)

Enel has purchased Kansas-based renewable developer Tradewind Energy through its US renewable subsidiary Enel Green Power North America. The deal includes 13 GW of American wind, solar, and storage projects.

The Enel Group and Tradewind Energy have been strategic development partners since 2006, the two companies noted. Since then, Enel constructed and started operations on approximately 3.9 GW of capacity that Tradewind developed.

“With this current acquisition, Enel Green Power North America will further expand its presence in Kansas, where the company is the largest wind operator with more than 1.4 GW of operational wind energy,” the companies say. Financial details were not disclosed.

In addition to purchasing Tradewind, Enel signed an agreement with the Macquarie Group’s Green Investment Group to sell Tradewind subsidiary Savion, which includes a development platform with 6 GW of solar and storage pipeline projects.

“Through this sale, the company is able to generate immediate returns on portions of the acquired portfolio, while retaining ownership of a strategic pipeline of around 7 GW of wind projects,” according to Enel. The transaction with Macquarie, which is subject to regulatory approval, is expected to close mid-year.

EGPNA has projects and developments in 24 US states and two Canadian provinces. Currently the company operates around 100 plants with a capacity of around 5 GW. Earlier this year, operations began on their 320-MW Rattlesnake Creek wind farm in Nebraska. A Tradewind Energy subsidiary developed the project, which is fully contracted with long-term PPAs that Facebook and Adobe signed in 2018.

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