EDF Renewable Energy has acquired the rest of an Oldham County, Texas wind project for an undisclosed amount.
The company already owned 51 percent of the project, called the Spinning Spur Wind Project, but the remaining 49 percent was owned by Cielo Wind Power LP.
EDF Renewable also agreed to buy 87 wind turbines from General Electric (NYSE: GE). This is the company’s third wind project in Texas.
In January, Google Inc. (Nasdaq: GOOG) invested $200 million in the project. Google's largest solar energy investment was $280 million, given to solar panel provider SolarCity. The company has made 10 investments in the renewable energy sector since 2010. Google focuses on those deals, because they can improve local economies, as well as provide attractive returns, the company says on its blog.
The buyer is a subsidiary of EDF Energies Nouvelles, a Paris-based energy company. Through a Canadian subsidiary, EDF Energies bought the Blackspring Ridge Wind Project in Alberta, Canada, with Enbridge Inc. (TSX: ENB), for $600 million.