EverPower Wind Holdings is to acquire the 240MW Big Sky Wind Farm located in Bureau & Lee Counties, Illinois, about 95 miles west of Chicago, from Suzlon Energy. EverPower is a portfolio company of Terra Firma.
EverPower Wind Holdings, Inc., a portfolio company of Terra Firma, a leading European-based private equity firm, has announced that it has signed a definitive agreement to acquire the 240MW Big Sky Wind Farm located in Bureau & Lee Counties, Illinois, about 95 miles west of Chicago, from Suzlon Energy.
Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1MW S88 turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tons of CO2 emissions.
The acquisition of Big Sky brings EverPower’s total operational wind generating capacity in the US to 752MW, making it the nation’s 18th largest wind generator. Over 70% of EverPower’s capacity is now located in PJM, the regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia.
“We are pleased to add this project to our portfolio,” said James Spencer, President and Chief Executive Officer of EverPower. “It fits into both our overall growth strategy and our strategy of building our portfolio in liquid markets like PJM.”
“The acquisition of Big Sky is a transformative deal for EverPower, growing its total generating capacity by nearly 50%,” said Stefan Thiele, Managing Director at Terra Firma. “This is a high-quality site which further strengthens EverPower’s position as a major wind energy producer in the US. It is also Terra Firma’s 20th renewable energy infrastructure transaction, further reinforcing our leadership in this sector.”
EverPower Wind Holdings, Inc., headquartered in Pittsburgh with offices in New York City and Bellefontaine, Ohio, is a developer, owner and operator of utility grade wind projects. Since its founding in 2002, EverPower has used a unique approach to wind power development by partnering with landowners and communities to establish itself as a premier developer, owner, and operator of wind projects in the US. To date, EverPower currently has seven operational wind facilities with a nameplate capacity of approximately 752 MW in four states. EverPower has been owned by Terra Firma Capital Partners, a European private equity firm, since 2009.
About Terra Firma
Founded by Guy Hands in 1994, Terra Firma is one of Europe’s leading private equity firms. Terra Firma specialises in the acquisition and fundamental transformation of asset-backed businesses in essential industries, focusing on investments in transformational private equity, operational real estate and infrastructure. Over the last 19 years, Terra Firma has invested over €16 billion of equity and completed transactions with an aggregate enterprise value of €45 billion.