Italy’s Enel Green Power announced that its subsidiary Enel North America Inc will invest in Minnesota-based Geronimo Wind Energy, LLC and assist the company in developing its 4,000 megawatt (MW) pipeline of wind projects in the upper Midwest.
Under the terms of the agreement, Enel Green Power will have a minority share of the company, will provide capital to further develop the business and will also have the priority right to acquire, own and operate wind projects developed by Geronimo.
Financial terms were not disclosed.
Based in Edina, Minnesota, Geronimo (www.geronimowind.com) was founded by Noel P. Rahn and develops projects of a size up to 100 MW in Minnesota, North and South Dakota.
“We are committed to further increasing our footstep in the United States, and to contribute to grow the renewable energy capacity in a region where we believe renewable energy demand and production will grow substantially in the next future” said Francesco Starace, President of Enel Green Power.
Enel Green Power has been actively building its renewable energy portfolio in the United States, and has a similar strategic investment in TradeWind Energy, LLC based out of Lenexa, Kansas. Recently two geothermal energy plants have been brought into operation in Nevada, adding to the existing hydro and wind plants portfolio in the USA.
Enel North America owns and operates a 3- MW wind farm in Minnesota, the 250-MW Smoky Hills wind farm in Kansas, the 30-MW Fenner wind farm and the 6.6-MW Wethersfield wind farm both in New York, as well as the 63-MW Snyder Wind Farm in Texas.
Enel Green Power is the renewable power company of Enel S.p.A. (ENEL.MI) aimed at developing and operating power generation from renewable sources in Italy and around the world.
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