News

E.ON Climate & Renewables announces completion of 325 megawatts of new wind projects in Texas
460 megawatts brought on-line in North America since acquisition of Airtricity North America

Chicago, IL, 03/21/08—E.ON Climate & Renewables (EC&R) today announced the completion and commercial operation of 325 megawatts of wind power projects in Texas. EC&R is the newly created global market unit of E.ON AG, the world’s largest investor-owned power and gas company. The new company is the entity responsible for E.ON’s renewable energy activities worldwide.
 
The additional 325 megawatts of wind power announcement represents another key milestone in the execution of E.ON’s renewable strategy announced in May 2007. In the nine months following that announcement EC&R’s global portfolio has grown to 1,300 operational megawatts across the globe.
 
EC&R entered the North American market through the December 2007 acquisition of Airtricity North America, a developer, owner and operator of renewable energy projects with offices in Chicago, Austin and Toronto. At the time of the acquisition, Airtricity North America had 125 megawatts of operational wind power plants and 460 megawatts under construction. Since the acquisition, EC&R has successfully completed those projects and commenced construction of facilities that will produce an additional 570 megawatts of power.
 
Commenting on the announcement, EC&R CEO Frank Mastiaux said: “I am extremely pleased with our progress in integrating the business of Airtricity North America with the excellent and highly committed team and great asset base of Airtricity North America. We now have an excellent platform in place to grow in what we believe is one of the most attractive renewable energy markets in the world.

Currently, EC&R’s installed capacity in the U.S. is 585 megawatts. The most recent projects to come on-line include:  

• Munnsville, a 35 megawatt project in upstate New York in Q4 2007;
• the Sand Bluff project in Texas in December 2007;
• the 126 megawatt Champion project that was commissioned in Texas in February 2008, and  
• the 209 megawatt Roscoe project—EC&R’s largest project to date—on March 1, 2008.

Declan Flanagan, formerly CEO of Airtricity North America and now CEO North America for EC&R said, “I am delighted to be moving forward as part of E.ON, and especially proud that during this time of change in the business we have stayed very focused on our objectives. We have commissioned four wind farms since the acquisition, and expect significant growth to continue next year for this unit.”

About EC&R
E.ON Climate & Renewables (EC&R) is responsible for activities of the E.ON group in renewable energy sources and environmental protection around the world. Tapping renewable energy sources offers enormous alternatives, both from a business perspective and for the environment. E.ON Climate & Renewables will invest over €6 billion in renewable energy and environmental protection projects by 2010 to expand the share of renewable energy sources in the E.ON portfolio for the long term. E.ON has thus taken a leading role in developing renewable energy sources worldwide. For more information, see www.eon.com.