Duke Energy Corp. has acquired Catamount Energy Corp. from Diamond Castle Holdings, a transaction that will significantly increase Duke's wind-energy operations.
The deal is valued at $240 million.
Catamount Energy, based in Vermont, was formed in 1992. Since 2001, the company has developed wind projects in the United States and the United Kingdom. Catamount has 300 megawatts of renewable energy in operation, including the Sweetwater project in Texas, one of the largest wind-powered facilities in the world.
In addition, Catamount has development interests in wind-powered projects with a capacity of 1,750 megawatts.
"This acquisition reinforces Duke Energy's commitment to clean, renewable energy as a major component of electricity generation throughout the United States," says Wouter van Kempen, president of Duke Energy Generation Services.
Diamond Castle Holdings is a New York-based private equity firm.
Charlotte-based Duke (NYSE: DUK) supplies electricity to about 4 million customers. The company has 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky.
Duke supplies electricity to western parts of the Triangle including Durham and Orange counties.
