Enel Green Power is to increase its footprint in the USA through a partnership with renewable energy developer Geronimo Wind Energy.
Enel Green Power’s subsidiary Enel North America Inc has made an equity investment in Geronimo and will hold a minority share in the Minnesota-based firm. The two companies will cooperate in the development of Geronimo’s pipeline of US Midwest-based wind power projects, which have a combined capacity of over 4000 MW.
Enel will provide capital to further develop the business and will also have the priority right to acquire, own and operate win projects developed by Geronimo.
Enel’s move came just a week after Portuguese group EDP Renewables said that it was planning to invest $4 billion in wind generation projects in the USA over the next three years. Its move was largely the result of the support given by the country’s federal government to renewable energy.
Enel Green Power already operates around 380 MW of wind power capacity in the USA as well as geothermal and hydropower plants.
“We are committed to further increasing our footstep in the United States, and to contribute to grow the renewable energy capacity in a region where we believe renewable energy demand and production will grow substantially in the next future,” said Francesco Starace, President of Enel Green Power. “Geronimo has solid record of accomplishment in the field, a philosophy of commitment to the community that reflects our own and which goes along with a pipeline of projects in a high potential area.”
In the United States, EDP Renewables has a presence in 21 states and operates more than 2500 MW of wind energy capacity.
“EDP Renewables is serious about partnering with the United States for a number of reasons, but most of all because of the leadership we have seen from the federal government,” said Antonio Mexia, CEO of EDP and Chairman of EDP Renewables. “The Obama Administration and Congress signaled that they are serious about fostering production of renewable energy and that has assured us that America is the right place to invest.”
Mexia has called for the US administration to do more to encourage the development of renewables, however. “The next step is to enact an aggressive Renewable Electricity Standard that will ensure more companies like EDP can make longer term investments in this sector,” said Mexia.
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