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Exelon Expanding Into Wind Generation with Acquisition of John Deere Renewables

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  • Ellen Thomas
    Exelon Expanding Into Wind Generation with Acquisition of John Deere Renewables Deal Will Enhance Exelon’s Environmental Leadership, Make It One of the
    Message 1 of 1 , Sep 9, 2010
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      Exelon Expanding Into Wind Generation with Acquisition of John Deere Renewables

      Deal Will Enhance Exelon�s Environmental Leadership, Make It One of the Nation�s Largest Wind Generators

      August 31, 2010--(BUSINESS WIRE)

      http://www.businesswire.com/news/home/20100831005745/en

      CHICAGO--Exelon Corporation today announced an agreement to acquire John Deere Renewables, a leading operator and developer of wind power, in a transaction that will add 735 operating megawatts of clean, renewable energy to Exelon�s generation portfolio, as well as an additional 230 megawatts in advanced stages of development.

      �We expect to see increasing demand for clean, efficient wind power at a national level and in the 29 states that already have a renewable energy standard�

      The acquisition, valued at approximately $860 million with a provision for up to an additional $40 million upon commencement of construction on the advanced development projects, is an economically sound transaction that builds on the company�s commitment to renewable energy as part of Exelon 2020, a business and environmental strategy to eliminate the equivalent of Exelon�s 2001 carbon footprint. Exelon already is the least carbon-intensive of the large U.S. electric utilities, and this transaction marks its entry into owning and operating wind projects. Exelon will finance the transaction using Exelon Generation debt.

      �Not only does this acquisition add value for Exelon shareholders, providing incremental earnings in 2012 and cash flows in 2013, but it also is one more way to implement a clean energy future,


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