Energy Transfer’s largest acquisition in more than 30 years will allow the company to expand its portfolio of clean energy assets to include a large portion of its renewable energy assets.
Energy Transfer purchased an 11.8% stake in wind farm developer Nederland Energy Group, which is a subsidiary of Dutch company Nederlands Energy Group NV, on March 21.
The transaction gives Energy Transfer and Nederlanders Energy Group a combined 20.6% stake of the wind farm.
Nedereland Energy Group is a leading renewable energy company based in the Netherlands.
Nederlands is a large wind farm in southern Netherlands that is currently under construction and the largest wind farm operator in the world.
It will be the largest renewable energy project in the United States.
The project is expected to produce up to 30 megawatts of energy.
The company is also the third largest renewable power producer in the European Union.
Energy transfer has been a leader in renewable energy investments in the past, with the purchase of a stake in the California-based Energy Transfer Equity in 2014 and the purchase in 2016 of a 25% stake from the Spanish utility EDF.
Naturals Power is also part of Energy Transfer.
Energy Transfers shares are up 21% year-to-date, trading at $18.50.