United States

United States

E.on sells 80% stake in 405MW US portfolio

UNITED STATES: Energy firm Enbridge has bought an 80% stake in two wind farms in the US with a combined capacity of 405MW from E.on.

The Magic Valley 1 project started operating in 2012
The Magic Valley 1 project started operating in 2012

The deal covers the 203MW Magic Valley 1 wind farm near Harligen, Texas, and the 202MW Wildcat 1 development near Elwood, Indiana. Both of the projects are operational, and came online in 2012.

Enbridge will pay $650 million for the portfolio. E.on will retain a 20% stake, and will be kept on to operate the projects for their lifetime.

The Wildcat 1 development is made up of 126 GE 1.6MW turbines, while the Magic Valley 1 project features 112 Vestas V100/1.8MW turbines.

The acquisition will bring Enbridge's total renewable energy capacity to more than 1.6GW. It has wind projects across the US and Canada, and has a target of doubling its existing capacity by 2018.

E.ON currently operates more than 2.7GW of wind capacity in the US.

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