Duke Energy has announced the acquisition of Catamount Energy from funds affiliated with Diamond Castle Holdings, a transaction which is expected to increase Duke Energy's wind energy operations.
Catamount Energy was formed in 1992. Since 2001, the company has focused on developing wind projects in the US and the UK. Catamount has approximately 300MW of renewable energy in operation, including its interests in the Sweetwater project in Nolan County, Texas. Additionally, Catamount has approximately 1,750MW of development interests in several states and the UK.
Wouter van Kempen, president of Duke Energy Generation Services (DEGS), a business unit of Duke Energy that owns and develops renewable energy assets, said: This acquisition reinforces Duke Energy’s commitment to clean, renewable energy as a major component of electricity generation throughout the US.
Michael Ranger, a senior managing director of Diamond Castle, said: We are very proud of the growth that Catamount experienced during our ownership period. Catamount’s management team took an early stage wind business and grew it into a strong operating company with a great development function.