in News Departments > FYI
print the content item

Dublin, Ireland-headquartered Airtricity, a renewable energy company, has entered a definitive agreement to sell its North American business unit, Airtricity North America, to E.ON AG for a purchase price equal to approximately $1.4 billion.

According to Airtricity, the transaction is the culmination of a process commenced by the company in May to examine strategic and financing alternatives for its North American business unit. The company says the proceeds of the sale will support the ongoing development of Airtricity's European business.

Airtricity North America has more than 80 employees and maintains offices in Chicago, Austin and Toronto. The company operates wind farms with about 210 MW of installed capacity and has an additional 880 MW of projects expected to be operational by the end of next year. In addition, to support long-term growth across the U.S. and Canada, the company says it has more than 1,000 MW of projects in an advanced development stage and more than 5,000 MW in an early development stage.

The transaction is subject to customary closing conditions, including certain federal and state regulatory approvals and clearance. The transaction is expected to close by the end of the year.


Trachte Inc._id1770
Latest Top Stories

Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.


'Significant' Opportunity Exists Within Wind Energy's O&M Services Market

An increasing number of wind turbines are nearing the end of their warranty period, creating significant revenue-generating opportunities within the wind turbine operations and maintenance (O&M) sector.


Cape Wind Obtains DOE Loan Guarantee To Support Offshore Wind Project Construction

The proposed 468 MW offshore wind farm located off the coast of Nantucket Sound received a key assist that should help in financing the U.S.’ first utility-scale wind farm.

Renewable NRG_id1934