• This strategic acquisition will enable Enel Green Power North America to manage all aspects of the renewable value chain, from greenfield development through operations • Enel Green Power North America acquired Tradewind’s 13 GW development pipeline, of which a 6 GW platform will be sold to Macquarie Group’s Green Investment Group.
Enel, through its US renewable subsidiary Enel Green Power North America, Inc., has closed an agreement today to purchase Kansas-based renewable developer Tradewind Energy, Inc.
This strategic acquisition will enable Enel Green Power North America to manage all aspects of the renewable value chain in North America, from greenfield development through operations. Following the transaction, the company will integrate Tradewind's development expertise across key areas of renewable growth for the company including wind, solar and storage.
"Through this deal we are acquiring an experienced renewable development company to help carry out our North American growth strategy across all technologies with even greater speed and efficiency, thereby strengthening our position in the competitive US market," said Georgios Papadimitriou, Head of Enel Green Power North America. "We are further able to capitalize on our investment and secure additional value for our company through the sale of certain development assets that will deliver immediate returns."
The Enel Group and Tradewind Energy, headquartered in Lenexa, Kansas, have been strategic development partners since 2006, supporting Enel's growth in the US wind market. Over the course of this partnership, Enel successfully constructed and began operations of around 3.9 GW of capacity developed by Tradewind. With this current acquisition, Enel Green Power North America will further expand its presence in Kansas where the company is the largest wind operator with more than 1.4 GW of operational wind energy.
Enel Green Power North America, part of Enel Green Power, is a leading owner and operator of renewable energy plants in North America with projects operating and under development in 24 US states and two Canadian provinces. The company operates around 100 plants with a managed capacity of around 5 GW powered by renewable hydropower, wind, geothermal and solar energy. The company is currently the largest wind operator in Kansas and Oklahoma.
Enel Green Power is the Enel Group's business line dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of around 43 GW across a generation mix that includes wind, solar, geothermal, and hydropower, and is at the forefront of integrating innovative technologies into renewable power plants.