Deere sells wind energy business for $900M

[IDemo]

Associated Press, 08.31.10, 07:21 AM EDT

MOLINE, Ill. --

Deere & Co. is selling its wind energy business to a subsidiary of Exelon for $900 million.

The company said Tuesday that the sale of John Deere Renewables will allow it to focus on its core business of manufacturing farm equipment.

Deere said in February it was reviewing options for John Deere Renewables. It has invested $1 billion over the past five years in the financing, development and ownership of wind energy projects.

The business includes 36 completed projects in eight states with an operational capacity of 735 megawatts.

http://www.forbes.com/feeds/ap/2010/08/31/business-industrials-us-deere-wind-energy_7889358.html

[madokie]

1. In todays corporate climate

I'm sure there is a lot of reasons that aren't stated for this

[phantom power]

2. Hmm. My former employer was trying to do some work with JDR

Oh well, hopefully they can continue their project under excelon.