A wind turbine. Credit: Luo Lei on Unsplash.

German energy company Innogy has completed the acquisition of 2GW onshore wind pipeline in America after receipt of clearance from the Committee on Foreign Investment in the US (CFIUS).

EverPower Wind Holdings US onshore wind development business was purchased from the UK-based private equity investor Terra Firma Capital Partners.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The financial details have not been disclosed by the companies. The deal was signed between the two companies in December last year.

Completion of the acquisition follows consents of authorities on the state level. Innogy has now become the sole owner of the projects that are at various development stages.

The acquired pipeline is located across eight US states, which are Maine, Maryland, Montana, New York, Ohio, Pennsylvania, Washington, and Wyoming.

“Scioto Ridge will be Innogy’s first US onshore windfarm, which is planned to start full construction early next year.”

The pipeline comprises three wind projects in late development stage, which are Cassadaga (126MW), Baron Winds (270MW) in New York State, and Scioto Ridge in Ohio (200MW).

The German energy company is planning to bring these projects into operation before the end of 2020.

Among the three projects, Scioto Ridge will be Innogy’s first US onshore windfarm, which is planned to start full construction early next year.

Innogy US Renewables CEO Andrew Young said: “With more than 20 development projects this pipeline serves as a strong foundation for Innogy’s expansion into the US onshore wind business.

“Together with the experienced development team based in Pittsburgh, who have joined the Innogy-family, we will turn these project opportunities into successful operating renewable energy projects.”