Airtricity Inc. has agreed to sell its North American wind assets to Germany-based E.ON Group for $1.4 billion.
Aritricity, based is Dublin, Ireland, has offices in Chicago, Austin and Toronto and operates wind farms with about 210 megawatts (MW) installed capacity. An additional 880 MW of projects should be operational by the end of 2008. Another 1,000 MW of projects are in the advanced development stage while more than 5,000 megawatts are in an early development stage.
The companies expect to close the deal by the end of the year. The move is E.ON’s first major renewable energy acquisition outside of Europe. Airtricity North America is currently active in nine states in the U.S. with greater emphasis in Texas and the Northeast as well as a development pipeline in Canada.
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