Announced
Financials
Sources
Tags
Pending
Alternative Electricity
Cross Border
electricity
Majority
Single Bidder
Private
Acquisition
United States
Alternative Fuels
Disposal
Friendly
Synopsis
Algonquin Power and Utilities, a Canadian renewable energy and regulated utility conglomerate, agreed to acquire a 51% stake in RWE's Texas wind farm, an onshore wind farm, for $600m. The transaction is expected to close in the 1Q of 2021 and is subject to the commissioning of the projects under construction. The disposal is part of RWE’s capital rotation programme and the proceeds will be used to finance further growth in the renewable energy business.
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