Enel North America
is scouting buyers for one of its U.S. wind units,
TradeWind Energy. The Italian utility is
looking to wrap the deal by the summer and has tapped
Morgan Stanley to run the sale, say
Enel is not looking to divest its entire wind unit, which
includes Padoma Wind Power, a banker says.
Enel acquired Padoma from NRG Energy earlier
this year (PFR, 1/22). The rationale for the sale of TradeWind
could not be determined.
TradeWind has a 1.2 GW pipeline in the Midwest that includes
the 200 MW Caney River project in Howard, Kan., two 300 MW
projects in Missouri and projects in Oklahoma and Illinois. Two
farms near Salina, Kan.--100.8 MW Smoky Hills I and 148.5 MW
Smoky Hills II--are online. The power from the farms is sold to
a consortium of offtakers including Sunflower Electric
Power, Midwest Energy, City
Utilities of Springfield and Independence
Power & Light.
Calls to Michael Storch, executive v.p. of
strategy and development at Enel NA in Andover, Mass., and
Rob Freeman, president of TradeWind in Lenexa,
Kan., were not returned before press time. A Morgan Stanley
official declined to comment. --Holly