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 bankers.
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 Fletcher