Duke Energy has announced that it has acquired the wind power development business of Tierra Energy from Energy Investors Funds for an undisclosed amount.
The purchase includes more than 1,000MW of wind assets under development in the Western and Southwestern United States. Three of the development projects - a total of approximately 240MW, are located in Texas and Wyoming, and are anticipated to be in commercial operation by the end of next year, with additional facilities potentially in operation as early as 2009. The power produced will be sold through long-term contracts. Six members of Tierra Energy's senior management team are joining DEGS, including David Marks, formerly Tierra Energy president. Marks becomes DEGS' senior vice president, business development - wind energy.
