FPL Energy LLC (Juno Beach, FL), a subsidiary of FPL Group Inc. (Juno Beach, FL), announced that it has entered into definitive purchase and sale agreements to acquire 130MW of California wind power generation projects from Enron for $80 million. FPL Energy is targeting to close the acquisition by early 2004.
Under terms of the agreements, FPL Energy and certain FPL Energy affiliates will purchase the assets of the 40MW Cabazon and the 16MW Green Power projects near Palm Springs, and the 18MW ZWHC and the 7MW Victory Garden Repower projects near Tehachapi. In addition, the company has agreed to purchase Enron's 50% ownership interest in the 77MW Sky River and the 22MW Victory Garden Phase IV projects. FPL Energy currently owns 50% of both Sky River and Victory Garden Phase IV projects.
