Greece’s Terna Energy has announced the sale of its 138-MW Mountain Energy wind energy park in the US state of Idaho to Innergex Renewable Energy for a sum of 215 million dollars, securing a profit of more than 30 million euros.
This facility’s operating profit in 2019 reached 17.6 million dollars.
Following the sale of its Idaho unit, Terna Energy, which entered the American green energy market in 2011, now owns and operates three wind energy parks with a total capacity of approximately 512 MW, all in the state of Texas.
“Approximately ten years ago, we took a strategic decision to expand our investment program into the US market. This decision has proven to be extremely beneficial for the group and its shareholders as, besides the significant increase in group profitability, it has also offered major gains and capital for our new investment program,” noted Giorgos Peristeris, CEO at Terna Energy. “We have already planned 1.7 billion euros of investments in Greece for the green energy, pumped storage and waste management sectors,” he added.
Terna Energy will continue to bolster its growth in the US green energy market, Peristeris noted.
The company is focused on investment opportunities that promise big gains for shareholders, he said.
Terna Energy’s portfolio is now comprised of facilities – operational, under construction or at the pre-construction stage – with a total capacity in excess of 1,800 MW in Greece, the US, central and eastern Europe.
The group aims to increase its total installed capacity to 2,800 MW over the next five years.