John Deere buys more wind turbines

John Deere Wind Energy (JDWE) agreed last month to buy 247 MW of turbine capacity from India's Suzlon, a deal that nearly doubles the overall supply framework between the two companies. The new order includes 100 of Suzlon's 2.1 MW turbines along with 30 of the company's 1.25 MW machines. The pact is reportedly worth $250 million and the turbines are intended for 2007 delivery. Earlier this year the two companies announced another deal for 238 MW of turbine capacity and now share an overall portfolio totalling more than 530 MW. They began their relationship in 2003, the year JDWE entered the wind business to aid its farmer customers install wind plant on their property. The company first invested in several small Minnesota projects and has since added wind farms in Texas and Missouri. Project financing is provided by John Deere Credit, a unit of Iowa-based Deere & Company, the world's leading manufacturer of agricultural equipment, and equity by farmers. Within the last year, JDWE announced a pair of 50 MW Missouri wind farms on private land. Both are expected online before the end of 2007. JDWE's allegiance to Suzlon is not exclusive. In May, it announced a deal with Vestas for a 107 MW supply of 1.65 MW turbines. The company declines to comment on specific destinations for any of its new machinery, or to answer other questions.

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