"International Power is the ideal partner to advance this portfolio of wind projects," said Angela Schwarz, President and COO of Element Markets. "Element Markets also gains the opportunity to expand other areas of our business with one of the largest and most respected power companies in the world."
Under the terms of the agreement, Element Markets will transfer three key wind farm development personnel to International Power who will subsequently develop and operate the wind power projects. Element Markets will continue the development of its remaining wind pipeline. Financial terms of the deal were not disclosed.
Element Markets, LLC is the leading developer and supplier of environmental credits in North America, with integrated trading expertise in the greenhouse gas, renewable energy and emissions credit markets. Since its inception in 2005, Element Markets has built one of the industry’s largest diversified development portfolios of wind, solar, methane and greenhouse gas mitigation projects.
The company provides structured environmental compliance and optimization services to prominent corporate and institutional clients and was named Emissions House of Year for 2010 by Energy Risk Magazine. Element Markets is based in Houston, Texas.