M&A Deal Summary

BHE Renewables Acquires Walnut Ridge Wind Farm

On May 22, 2015, BHE Renewables acquired renewable energy company Walnut Ridge Wind Farm from Geronimo Energy

Acquisition Highlights
  • This is BHE Renewables’ 2nd transaction in the Renewable Energy sector.
  • This is BHE Renewables’ 2nd transaction in the United States.
  • This is BHE Renewables’ 1st transaction in Illinois.

M&A Deal Summary
Date 2015-05-22
Target Walnut Ridge Wind Farm
Sector Renewable Energy
Buyer(s) BHE Renewables
Sellers(s) Geronimo Energy
Deal Type Divestiture

Target

Walnut Ridge Wind Farm

Illinois, United States
Walnut Ridge is an up to 225 MW wind farm development located in north central Illinois. The General Services Administration (“GSA”) of the United States Federal Government has entered into a Power Purchase Agreement (“PPA”) for 140 MW of Walnut Ridge’s capacity. Development of Walnut Ridge is expected to continue throughout 2015 with plans to construct the facility in 2016.

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Buyer(S) 1

Buyer

BHE Renewables

Des Moines, Iowa, United States
Category Company
Founded 2011
Sector Renewable Energy
DESCRIPTION

BHE Renewables has invested extensively in solar, wind, geothermal and hydro projects. As a long-term owner of assets, the company’s wind projects include the 300-megawatt Jumbo Road project near Hereford, Texas; 168-megawatt Pinyon Pines I and 132-megawatt Pinyon Pines II projects, located near Tehachapi, California; 81-megawatt Bishop Hill II project in Henry County, Illinois; 400-megawatt Grande Prairie project in Holt County, Nebraska.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 2 of 2
Type (Divestiture) 2 of 2
State (Illinois) 1 of 1
Country (United States) 2 of 2
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-22 Grande Prairie Wind Farm

United States

Grande Prairie is a 400 megawatt (“MW”) wind farm development located in northeastern Nebraska. Omaha Public Power District (“OPPD”) has contracted to purchase the entire 400 MW of Grande Prairie’s capacity. Once constructed, Grande Prairie will be the largest wind energy project in the state of Nebraska and will increase the state’s wind energy capacity by approximately 50 percent.

Buy -

Seller(S) 1

SELLER

Geronimo Energy

Minneapolis, Minnesota, United States
Category Company
Sector Renewable Energy
DESCRIPTION

Geronimo Energy LLC is a utility-scale renewable energy development company headquartered in Minneapolis, Minnesota. Geronimo has developed multiple operating wind farms and solar projects throughout the United States. Over 1,600 megawatts of Geronimo-developed renewable energy projects are either operational or currently under construction.

DEAL STATS #
Overall 2 of 3
Sector (Renewable Energy) 2 of 3
Type (Divestiture) 2 of 3
State (Illinois) 1 of 1
Country (United States) 2 of 3
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-22 Grande Prairie Wind Farm

United States

Grande Prairie is a 400 megawatt (“MW”) wind farm development located in northeastern Nebraska. Omaha Public Power District (“OPPD”) has contracted to purchase the entire 400 MW of Grande Prairie’s capacity. Once constructed, Grande Prairie will be the largest wind energy project in the state of Nebraska and will increase the state’s wind energy capacity by approximately 50 percent.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-22 Geronimo Energy - Apple Blossom Wind Project

Huron County, Michigan, United States

Geronimo Energy LLC - Apple Blossom Wind Project is a generator of clean, renewable power for approximately 38,000 Michigan homes.

Sell -
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