Published: 29 March 2019 29 March 2019
Enel Green Power has closed an agreement to purchase Kansas-based renewable developer Tradewind Energy. Under the agreement, EGP purchased all of Tradewind’s development platform comprising of 13GW of wind, solar and storage projects located throughout the USA.
Shortly after the closing of EGP’s purchase of Tradewind, the company signed an agreement with Macquarie Group’s Green Investment Group to sell Savion, a 100% subsidiary of Tradewind that includes a development platform including 6GW of solar and storage pipeline projects. The closing of the transaction with Macquarie, expected mid-year, is pending regulatory approval. Through this sale, EGP is able to generate immediate returns on portions of the acquired portfolio while retaining ownership of a strategic pipeline of around 7GW of wind projects. Enel Green Power and Tradewind Energy, headquartered in Lenexa, Kansas, have been strategic development partners since 2006, supporting EGP’s growth in the US wind market. Over the course of this partnership, EGP constructed and began operations of around 3.9GW of capacity developed by Tradewind.