Exelon to Buy Deere’s Wind Power Business for $900 Million

By Antonio Perez
Antonio Perez
Antonio Perez
August 31, 2010 Updated: October 1, 2015

Nuclear-energy giant Exelon Corp. announced a plan this week to purchase Deere and Co.'s wind energy business. (Christopher Furlong/Getty Images)
Nuclear-energy giant Exelon Corp. announced a plan this week to purchase Deere and Co.'s wind energy business. (Christopher Furlong/Getty Images)
Nuclear-energy giant Exelon Corp. this week announced a plan to purchase Deere & Co.’s wind energy business for around $900 million, giving the company a foray into the wind energy market.

With the sale, Deere will focus on its core business, which is manufacturing farm machinery and equipment.

The acquisition will give Chicago-based Exelon around 36 wind farms in the United States totaling 735 megawatts of production, enough to supply power to between 160,000 to 220,000 households.

“We expect to see increasing demand for clean, efficient wind power at a national level and in the 29 states that already have a renewable energy standard,” Exelon CEO John W. Rowe said in a statement.

The deal is expected to close in the fourth quarter.