Deere to Review Strategic Options for Wind Power Business

Deere & Company today announced that it will review strategic options for its wind energy business and has retained Goldman, Sachs & Co. as exclusive financial advisor to assist in the initiative.

Deere said no formal decisions have been made and no agreements have been reached concerning the company’s long-term investments in wind energy projects that are either operational or in development in several states of the U.S.

Deere has been involved in the financing, development, and ownership of wind farm projects for the past five years and has become a leader in project development, management, and financing of wind energy projects in rural U.S. communities.

Currently, Deere has 34 wind energy projects in seven states with operational capacity of 706 megawatts. In addition, the company has numerous wind power projects in development.

John Deere (Deere & Company) (NYSE: DE) is a world leader in providing advanced products and services for agriculture, forestry, construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment. Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe.