Source: John Deere
Deere & Company signed a definitive agreement to sell John Deere Renewables, LLC, its wind energy business, to Exelon Generation Company, LLC, a wholly-owned subsidiary of Exelon Corporation.
"As Deere sharpens its own strategic focus, we have concluded that the company's resources are best invested in growing our core equipment businesses around the world," said Samuel R. Allen, Deere & Company chairman and chief executive officer. "We have chosen to place the wind portfolio with Exelon in part due to its demonstrated leadership in the energy industry."
John Deere Renewables includes 36 completed projects in eight states with an operational capacity of 735 megawatts. The definitive agreement announced today includes the completed projects plus numerous others in development.