From the Washington Examiner: Deere sells wind energy business, John Deere Renewables, to Exelon subsidiary for $900 million
In a $900 million sale, John Deere ends its wind adventure in which it, according to the article, “invested $1 billion over the past five years in the financing, development and ownership of wind energy projects.”
It seems “the sale will allow it (Deere) to get back to what it does best, which is manufacturing farm equipment.”
For the collectors among you, I thought I’d capture this page before it is removed from the John Deere site:
I especially like the phrase on their page, “A level of integrity and stability that is unmatched in the industry.” For some reason, like a lot of other folks, I always trusted John Deere, which might be a major reason they’ve remained a strong and profitable company.
But that “generations to come” commitment to wind energy they touted on their page seems a little disingenuous, don’t you think? Unless you’re talking about rabbits, 5 years is not a lot of generations.
The departure from the wind farm industry does make one wonder if it was Deere’s failure or the future of the wind business in general causing the shift in Deer’s desire to offer customers “one-stop wind energy development from the leader on the land.” Seems to me that, based on history, Deere has had a pretty darned good track record. But I’ll let you jump to your own conclusion.
Anyway, makes you wonder who will be picking up the mantle of unmatched “integrity and stability” now? Maybe Synergics Wind Energy?