Duke Energy Expands Wind Operations With Acquisition

NAW Staff, Thursday 26 June 2008 - 01:00:00

Charlotte, N.C.-based Duke Energy has acquired Catamount Energy Corp. from funds affiliated with private equity firm Diamond Castle Holdings LLC. According to Duke Energy, the transaction will significantly increase the company's wind energy operations.

"This acquisition reinforces Duke Energy's commitment to clean, renewable energy as a major component of electricity generation throughout the U.S.," says Wouter van Kempen, president of Duke Energy Generation Services, a business unit of Duke Energy that owns and develops renewable energy assets.

Catamount Energy was formed in 1992. Since 2001, the company has focused on developing wind projects in the U.S. and U.K. Catamount has approximately 300 MW of renewable energy in operation, including its interests in the Sweetwater project in Nolan County, Texas.

The acquisition is valued at approximately $240 million plus assumed debt.

SOURCE: Duke Energy



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