Published on August 28th, 2009 | by Zachary Shahan3
International Wind Power Business Acquisition — Confidence in the US
August 28th, 2009 by Zachary Shahan
A major move in the wind power industry this week shows international confidence in wind power in the US. A multi-million dollar acquisition by a British investment firm demonstrates that large financial players are seeing the US as a good place to invest in wind power.
Terra Firma, a private equity firm from Britain, is acquiring EverPower, a NY based wind power developer. The deal is said to be for about $350 million and proves that Terra Firma chairman, Guy Hands, is being honest when he says that the US renewable energy market is worth “significant investment.”
With continued growth in the wind energy market (wind energy increased 34.5% in the last year in the US — far more than any other energy source), record highs in clean energy patents, and advice from Morgan Stanley and Climate Change Capital, Terra Firma decided to put its money on EverPower.
EverPower has offices on the east coast (New York City) and west coast (Portland, Oregon). It has wind farms across the country — in New York, Oregon, Pennsylvania and Ohio. It is also developing new wind farms in seven states, according to its website.
Renewable energy, and perhaps especially wind energy, is leading the economy right now. Here is another example of this increasing economic trend.
For more information on green investment, read First US Mutual Fund to Report Carbon Footprint.
For more on green technology as an economic key to the future, read Green Jobs and Clean Energy: #1 Way to Lead the World.
Image credit: Conor Dupre-Neary via flickr under a Creative Commons license