Wind Energy Roundup: From Ethiopia to Brooklyn, Big Investments & Buyouts

The wind energy industry, perhaps the most mature cleantech sector, is truly global in scope. Just look at the wind energy news stories coming across the wire today. Here’s a roundup of recent wind energy plays from all over the world:

Ethiopia Signs $285M Deal for Huge Wind Farm: The Ethiopian Electric Power Corporation (EEPCo) signed a €210 million ($285 million) deal with French wind turbine maker Vergnet today for 120 1-megawatt wind turbines. This is a huge project for the developing country, potentially representing 15 percent of EEPCo’s present capacity. Delivery of the turbines is scheduled to start next year with construction to be completed by 2011. The utility will finance the project with two complementary loans from European banks, including the French Development Agency.

Own Energy Aiming for $100M: One-year old Own Energy completed an undisclosed Series A round of funding yesterday but is reportedly already looking to raise $100 million to fund the 51-megawatt wind farm it has planned in Texas for 2009. The Brooklyn, N.Y.-based company wants to put wind farms of the 10- to 80-megawatt size on actual farmland. Instead of outright buying or leasing land, Own Energy plans to partner with landowners and split the energy revenues. EnerTech Capital Partners, Contour Venture Partners and the New York City Investment Fund participated in the first round of funding.

Vattenfall Acquires AMEC Wind Energy for $216.5M: Swedish utility Vattenfall has acquired British wind energy developer AMEC Wind Energy for £126 million (roughly $216.5 millon). AMEC Wind has a portfolio of 540 megawatts of potential wind development. Vattenfall recently made an offer to acquire Eclipse Energy, another British wind developer. The Swedish company currently operates 90 megawatts of offshore wind turbines and is looking to expand in the British market. It’s a good bet since the British government wants to see 33 gigawatts of new offshore wind energy come online by 2020.


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