Babcock & Brown acquisition in the United States

Babcock & Brown (B&B), one of the largest investors in wind projects, has acquired Superior Renewable Energy (SRE), an American wind developer based in Houston. The transaction compliments B&B's existing US wind portfolio of more than 550 MW in operation and 700 MW expected online by the end of 2007. "Babcock & Brown and Superior have a solid history of working together on successful projects and we will now more efficiently realise the value Superior's greenfield development team creates," says B&B's Hunter Armistead. Superior's former CEO, John Calaway, is expected to transition to B&B and lead the development effort. "Together, we have the right mix of development focus and financing capability to unlock the full potential of wind energy," he says. B&B calls Superior's futures portfolio "a strong pipeline of advanced development," but declined to supply specifics.