Now with the approval of the U.S. government, Germany-based energy company innogy SE has become the sole owner of more than 2 GW of under-development onshore wind projects in the U.S.
In December, innogy and Terra Firma Capital Partners, a U.K. private equity investor, signed an agreement to acquire all the shares in EverPower Wind Holdings’ U.S. onshore wind development business. Now, the transaction has been completed following approval by the Committee on Foreign Investment in the United States and pending consents of authorities on the state level.
The projects – in various development stages – are located across eight states: Maine, Maryland, Montana, New York, Ohio, Pennsylvania, Washington and Wyoming. All parties have agreed to keep the purchase price confidential, notes innogy.
The pipeline includes three wind projects in late-stage development: Cassadaga (126 MW) and Baron Winds (270 MW) in New York and Scioto Ridge (200 MW) in Ohio. The company plans to bring these projects online before the end of 2020. Scioto Ridge is expected to be innogy’s first project, targeted to start full construction in early 2019.
In combination with its new Pittsburgh office, Innogy Renewables US LLC, established in Chicago in 2016, now consists of a team of more than 40 colleagues.
“With more than 20 development projects, this pipeline serves as a strong foundation for innogy’s expansion into the U.S. onshore wind business,” comments Andrew Young, CEO of Innogy Renewables US. “Together with the experienced development team based in Pittsburgh, who have joined the innogy family, we will turn these project opportunities into successful operating renewable energy projects.”
