This is an excerpt from EERE Network News, a weekly electronic newsletter.
Acquisitions a Growing Trend in Solar and Wind Power
While wind power developers are at work in Massachusetts and Pennsylvania, acquisitions appear to be growing in popularity as a way to obtain wind power capacity. For example, Entergy Corporation, a global energy company, announced in mid-month its purchase of a majority ownership in the newly completed Top of Iowa Wind Farm, an 80-megawatt facility in northern Iowa. See the Entergy press release.
Shell WindEnergy Inc. followed suit shortly thereafter with its purchase of the 80-megawatt Llano Estacando Wind Ranch near Amarillo, Texas, from Cielo Wind Power, LLC. Shell WindEnergy is part of Shell Renewables, one of five core businesses of the Royal Dutch/Shell Group of Companies.
But for Shell Renewables, the big news last week was its buyout of solar photovoltaic partners Siemens AG and E. ON Energie AG. Their joint venture, called Siemens und Shell Solar, will now be owned entirely by Shell and will be known as Shell Solar.
The wind and solar purchases are part of the Shell Group's plan to invest up to $1 billion in renewable energy technologies over the next five years.