German power giant E.ON sells US wind farms

28th November 2014, Comments 0 comments

E.ON, Germany's biggest power supplier, said Friday it has agreed to sell two US wind farms to Canadian group Enbridge.

E.ON "has agreed to sell an 80-percent interest in a portfolio of two wind farms in the US to Enbridge," the German group said in a statement.

The two wind farms -- the 203 megawatt (MW) Magic Valley 1 wind farm near Harligen, Texas and the 202 MW Wildcat 1 wind farm near Elwood, Indiana -- have an enterprise value of $650 million (522 million euros).

The two farms combined provide enough power for more than 120,000 households, E.ON said.

E.ON said it would retain a 20-percent stake and remain the operator of the wind farms, "demonstrating its ongoing commitment to the projects and the North American market."

E.ON currently operates over 2,700 MW of renewable capacity in the US, it added.


© 2014 AFP

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