Iberdrola SA, the largest wind-energy producer in Spain, has acquired Community Energy, based in Wayne, PA, for $30 million.
The idea of a global consolidation among wind-energy firms shouldn’t surprise anyone. Giant multinationals are the norm in the rest of the energy business, and will likely become the norm in wind too.
But what may be surprising to some is the reason Community Energy gave for selling — the sudden rise of wind power is creating a shortage of equipment, squeezing out smaller players who can’t obtain the turbines, etc. they need to operate.
“The capital required in this industry and the competition for equipment – mostly for turbines – really changed in the last year,” Community Energy’s founder Brent Alderfer told the Philadelphia Inquirer. “You have to be a big player to get equipment and good terms – the turbines we rely on are back-ordered into 2008.“