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March 28, 2019

Enel Green Power acquires Tradewind Energy’s renewable portfolio

Enel Green Power North America (EGPNA), the subsidiary of Enel has secured an agreement to acquire Kansas-based renewable developer Tradewind Energy.

Enel Green Power North America (EGPNA), the subsidiary of Enel has secured an agreement to acquire Kansas-based renewable developer Tradewind Energy.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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As part of the deal, EGPNA acquired Tradewind’s 13GW development pipeline.

EGPNA head Georgios Papadimitriou said: “Through this deal we are acquiring an experienced renewable development company to help carry out our North American growth strategy across all technologies with even greater speed and efficiency, thereby strengthening our position in the competitive US market.

“We are further able to capitalise on our investment and secure additional value for our company through the sale of certain development assets that will deliver immediate returns.”

The acquisition of Tradewind Energy’s entire pipeline will enable EGPNA to manage all aspects of the renewable value chain in North America.

“Through this deal we are acquiring an experienced renewable development company to help carry out our North American growth strategy across all technologies.”

Since 2006 Enel Group and Tradewind Energy have been working together as strategic development partners.

Additionally, EGPNA signed a definitive agreement to divest 6GW of the acquired 13GW pipeline to Macquarie Group’s Green Investment Group.

Subject to regulatory approval, the deal with Macquarie is expected to close in the middle of 2019.

Upon completion of the deal, EGPNA will integrate Tradewind’s development expertise across key areas in the company.

In January this year Enel Green Power North America started construction works for its largest wind farm, the 450MW High Lonesome facility in Upton and Crockett Counties, Texas.

Built with an overall investment of around $600m, the project is part of the investment outlined in Enel’s 2019-2021 strategic plan.

Once complete, it will be the largest wind farm in Enel’s global renewables portfolio.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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