Italy - Enel to acquire US wind company

A subsidiary of Italy's Enel will acquire a wind energy company owned by a U.S. power generator for an undisclosed sum. Padoma Wind Power LLC, owned by NRG Energy Inc., is developing 4,000 megawatts of potential projects in California.

The U.S. has become a rapidly expanding market for wind energy. Earlier this month, President Barack Obama announced $2.3 billion in tax credits to promote clean-energy jobs, paid for out of his stimulus plan. He also urged $5 billion in future spending on green manufacturing. That has brought both European and Asian energy companies to the U.S.

NRG, based in Princeton, N.J., will sell the wind company to Enel North America and the companies have being looking into more North American joint ventures in renewable energy. NRG is keeping its ownership stake in its three Texas wind farms -- Sherbino, Elbow Creek and Langford -- totaling almost 350 megawatts of electricity.

For more information please contact Trevor Sievert at ts@windfair.net