Enel North America Inc., a subsidiary of Enel SpA, has signed an equity purchase and partnership agreement with TradeWind Energy LLC, a Lenexa, Kan.-based wind power developer, to jointly develop wind projects in the Midwest and potentially other regions in the U.S.
Under the terms of the agreement, the companies will provide over 1,000 MW of wind power. Enel will have the priority right to acquire, own and operate the wind projects developed by TradeWind, which will enable the company to further strengthen its position in the U.S.
"We are strongly committed to pursue growth in renewables, and we are very pleased with this strategic partnership," says Fulvio Conti, Enel's chief executive officer. "TradeWind has a very interesting pipeline with some exceptional projects in terms of wind resources. Enel's financial capabilities as well as its long-established tradition in renewable energy, coupled with TradeWind's strong development capabilities and deep knowledge of local markets, will make for a strong partnership."