Andover, MA (November 26th, 2009) Enel Green Power announced that its subsidiary Enel North America Inc has signed an agreement resulting in an equity investment and strategic partnership with Geronimo Wind Energy, LLC based in Minnesota. The two companies will cooperate in developing Geronimos more than 4,000 megawatt (MW) pipeline of wind projects in the upper Midwest and potentially other regions of the United States.
Under the terms of the agreement, Enel Green Power will have a minority share of the company, will provide capital to further develop the business and will also have the priority right to acquire, own and operate wind projects developed by Geronimo.
Based in Edina, Minnesota, Geronimo was founded by Noel P. Rahn and develops projects of a size up to 100 MW in Minnesota, North and South Dakota.
We are committed to further increasing our footstep in the United States, and to contribute to grow the renewable energy capacity in a region where we believe renewable energy demand and production will grow substantially in the next future said Francesco Starace, President of Enel Green Power. Geronimo has solid record of accomplishment in the field, a philosophy of commitment to the community that reflects our own and which goes along with a pipeline of projects in a high potential area.
We are very pleased to be partnering with Enel Green Power, a company with a worldwide reputation in the renewable energy field, said Blake Nixon, President of Geronimo. Enels experience in renewable energy and the wind market both in the United States and internationally, combined with Geronimos development assets and highly energetic and enthusiastic team of professionals will make for a very capable and competitive partnership.
Enel Green Power has been actively building its renewable energy portfolio in the United States, and has a similar strategic investment in TradeWind Energy, LLC based out of Lenexa, Kansas. Recently two geothermal energy plants have been brought into operation in Nevada, adding to the existing hydro and wind plants portfolio in the USA. Enel North America owns and operates a 30 MW wind farm in Minnesota, the 250 MW Smoky Hills wind farm in Kansas, the 30 MW Fenner wind farm and the 6.6 MW Wethersfield wind farm both in New York, as well as the 63 MW Snyder Wind Farm in Texas.
About Enel Green Power and Enel North America
Enel Green Power is the renewable power company of Enel S.p.A. aimed at developing and operating power generation from renewable sources in Italy and around the world. The companys business incorporates all of Enels activities in the wind, solar, geothermal, hydroelectric and biomass fields in Europe, North America and Central and South America. With over 4,500 MW of installed capacity and 17.2 TWh of produced electricity in 2008, Enel Green Power is a leading global company in renewables. Enel North America, Inc. is a subsidiary of Enel Green Power and operates all EGP renewable energy plants in 20 U.S. States and in three Canadian Provinces. For further information, please visit http://enelgreenpower.com/en/
About Geronimo Wind Energy
Geronimo Wind Energy is a utility-scale wind energy developer based in Edina, Minnesota. Geronimo is focused on developing mid-sized wind energy projects of 40 to 100 megawatts in nameplate capacity. Geronimo currently has over 4,000 MW of projects in development throughout the upper Midwest. For more information about Geronimo Wind Energy, visit www.geronimowind.com.
Director of External Affairs and Communications
Enel North America, Inc.
Director of Marketing
Geronimo Wind Energy, LLC