Wind acquisitions soar in 2013

Lukerg Renew, the Vienna-based joint venture owned by Russian oil company Lukoil and Italian wind developer ERG Renew, has already bought two wind farms this year.

Lukerg Renew, the Vienna-based joint venture owned by Russian oil company Lukoil and Italian wind developer ERG Renew, has already bought two wind farms this year.

Acquisition activity for wind farms leapt to its highest level since 2010 during the second quarter, with five buy-ins worth $1.3bn leading the way in a 36-project shopping spree across the global industry, according to consultancy Mercom Capital.

The largest deal by value was PG&E’s acquisition of Puget Sound Energy’s 267MW Lower Snake River phase II wind farm in the US for $535m, followed by SSE’s take-over of Scotland’s 99MW Dunmaglass project from RES for $305m.

Palisade and Northleaf’s joint purchase of a 75% stake in Australia’s 111MW Waterloo project from EnergyAustralia for $227m, Lukerg Renew buy-up of the 70MW Gebeleisis development in Romania from Vestas for $144m, and Denmark’s Pension Fund Administrator compatriot energy outfit SE’s take-over of Dong’s 196MW onshore wind business for $133m, Log in to read complete article.

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