The acquisition of John Deere marks Exelon’s entry into owning and operating wind projects.
The 36 wind power projects in eight states will be called Exelon Wind, a division of Exelon Power.
Exelon chairman and CEO John Rowe said that the purchase of John Deere Renewables is an economically sound transaction that adds value for shareholders while advancing Exelon’s clean energy leadership as part of Exelon 2020.
"The addition of these wind assets increases our zero-emission generation capacity to nearly 19,000MW, helping us achieve our goal of a clean, low-carbon energy supply at the lowest cost to the communities and customers we serve," Rowe said.
Approximately 75% of the Exelon Wind operating portfolio is already sold under long-term power purchase arrangements.
In addition, Exelon has the opportunity to pursue approximately 1,400MW of new wind projects that are in various stages of development, including 230MW in advanced stages of development.
