Deere May Sell Wind Energy Biz

Deere & Co., Moline, IL, said it has hired investment adviser Goldman Sachs & Co. to review options for the company’s wind energy business, including a possible sale. Deere has been involved in the financing, development and ownership of wind energy projects for the past five years.

In that time, the company has invested $1 billion into the business, said Ken Golden, director of public relations for the company. Golden declined to state the segment’s revenue or profit. Deere said it has 34 wind energy projects in seven states, with operational capacity of 706 megawatts. It also has numerous wind energy projects in development. (The American Wind Energy Association says one megawatt of wind can power 225-300 households a year.