Duke Energy Corp. has acquired Catamount Energy Corp. from Diamond Castle Holdings, a transaction that will significantly increase Duke's wind-energy operations.
The deal is valued at $240 million.
Catamount Energy, based in Vermont, was formed in 1992. Since 2001, the company has developed wind projects in the United States and the United Kingdom. Catamount has 300 megawatts of renewable energy in operation, including the Sweetwater project in Texas, one of the largest wind-powered facilities in the world....MORE
TradingMarkets adds (from DUK's press release):
...Today's acquisition, valued at approximately $240 million plus assumed debt, is a continuation of Duke Energy's strategy to develop renewable energy. In May 2007, Duke purchased Tierra Energy, a leading wind developer in Austin, Texas. The combined entity will have more than 5,000 megawatts of wind energy under development in 12 states and approximately 500 megawatts of operating assets by the end of 2008.
Today's announcement follows several other recent renewable initiatives announced by Duke Energy, including a $100 million plan to install electricity generating solar panels at up to 850 North Carolina sites; a plan to purchase electricity output from the nation's largest photovoltaic solar farm to be built in Davidson County, N.C.; a 20-year contract to purchase 100 megawatts from a wind farm in Indiana; and a request for proposals to purchase significant amounts of electricity from renewable energy providers in Ohio....
