|
contents | business | |||||||||
| E.ON buys Airtricity in North America German energy giant E.ON is acquiring the North American activities of Irish wind farm operator Airtricity for $1.4 billion. This takeover marks the first time E.ON has attained a strong renewables market position with considerable growth potential outside of Europe. The purchase price is subject to closing adjustments and includes $553 million net debt and shareholder loans. Airtricity is currently operating wind farms with around 210 MW installed capacity. Additional 880 MW are going to be operational by the end of 2008. Wind farms already operational or under construction are situated in extremely favorable locations in the US states of Texas and New York and boast superb load factors. More than 1,000 MW of additional projects are in an advanced development stage. These projects are going to require an investment volume of around $3.5 billion until 2011. Other projects across US and Canada totaling more than 5,000 MW are in an early development stage. By acquiring Airtricity North America E.ON is increasing its worldwide installed wind power capacity from around 640 MW to 850 MW, making it one of the largest wind farm operators worldwide. The total capacity of the wind power projects being developed is increasing from 2.6 to 4.6 GW. With this acquisition, E.ON is diversifying its regional and technological wind power portfolio. The growing business volume also means that the Group can tap economies of scale, including in the purchase of wind turbines. write your comments about the article :: © 2007 Construction News :: home page |