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Otter Tail Power completed the acquisition of Ashtabula III Wind Energy Center from NextEra Energy for $49.7m.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

energy assets

Alternative Fuels

Acquisition

Domestic

Infrastructure

Majority

Private

Completed

Friendly

Single Bidder

Synopsis

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Otter Tail Power, an electric utility company, completed the acquisition of Ashtabula III Wind Energy Center, a 39-turbine wind farm, from NextEra Energy, a company that specialises in renewable energy, with a strong emphasis on wind and solar power, for $49.7m. “Our customers have benefited from wind resources since 2002. Purchasing Ashtabula III is part of our least-cost plan to meet our customers’ energy needs, both now and in the future,” Otter Tail Power, Tim Rogelstad President.

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