Under the terms of the agreement, Enel Green Power will have a minority share of the company, will provide capital to further develop the business and will also have the priority right to acquire, own and operate wind projects developed by Geronimo.
Based in Edina, Minnesota, Geronimo develops wind farms up to 100MW in size in Minnesota, North Dakota and South Dakota.
Enel Green Power has been actively building its renewable energy portfolio in the US, and has a similar strategic investment in Lenexa, Kansas-based TradeWind Energy.
Enel North America owns and operates a 30MW wind farm in Minnesota, the 250MW Smoky Hills wind farm in Kansas, the 30MW Fenner wind farm and the 6.6MW Wethersfield wind farm, both in New York, as well as the 63MW Snyder Wind Farm in Texas.
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