SHIFTING WINDS: Deere & Co. is selling its wind energy business to Exelon Corp. for $900 million in a move to get back to doing what it does best — making farm equipment.
BACKDROP: Deere invested $1 billion over the past five years on wind energy projects. It saw the business as an extension of its agricultural work, with projects located in rural areas. But stimulus money that helped expand capacity last year is running out and Congress has yet to enact a nationwide standard. Advocates say that is why wind energy has not reached its full potential.
M&A RAMPS UP: Falling energy prices have spurred more deals in the industry. Blackstone Group recently paid $542.7 million for Dynegy Inc., which also sold power plants to NRG Energy Inc. for $1.36 billion.
