US authorities have approved Innogy’s acquisition of a 2GW onshore wind pipeline from EverPower Wind Holdings.
The German company said the “entire transaction”, which includes projects in eight states at various stages of development, is now completed after the US Government’s Committee on Foreign Investment signed off on the deal.
Three wind farms including the 126MW Cassadaga, 270MW Baron Wind both in New York and the 200MW Scioto Ridge in Ohio are in late stage development.
Innogy said all three project will be online by end-2020, with the latter site the first to enter full construction in early 2019.
The remaining pipeline will be “realised incrementally” based on “commercial assessment” on a project-by-project basis.
Innogy will “review all options under various ownership and financing structures” to “optimise value”, it added.
The purchase price has not been disclosed.
Renewables chief operating officer Hans Bu¨nting said the transaction is part of Innogy’s aim to grow its green business worldwide.
“With the acquisition of EverPower’s excellent onshore wind pipeline, we have established innogy as a relevant renewables player in the US market, one of our key strategic growth areas,” he said.
“Our strengthened team will now focus on execution of our first US wind projects. After commissioning, our wind farms will supply hundreds of thousands of homes with green energy.”