Chicago-based power company Exelon plans to finance its $900 million acquisition of� Deere�&�Company’s wind energy business on debt.
it does not expect the debt financing to impact Exelon’s credit ratings. The agency says the power company has a strong balance sheet that is supported by its low-cost nuclear generation, and a diverse generating fleet.
Exelon will pay Deere & Company an initial $860 million for its 735 megawatts operating assets and 1,468-megawatt project pipeline. Upon the completion of three projects in Michigan, poised to generate 230 megawatts once operational, Exelon will pay Deere & Company the remaining $40 million we learn announcing Fitch’s rating review.