Element Power acquires 1.4GW in wind assets from EcoEnergy

Element Power announced Tuesday that it picked up a 1.4 gigawatt portfolio of U.S.-based wind development assets from EcoEnergy for an undisclosed price.

The acquisition is part of Portland-based Element Power's strategy to build its North American portfolio. "By adopting a targeted and highly selective project acquisition strategy in key markets, we have created excellent 2010 and 2011 build opportunities in both solar and wind," said Element Power's president and COO for North America, Raimund Grube in a statement.

Element now has nearly 4 gigawatts in wind and solar assets in more than 25 states. Element also has operating and development-stage wind and solar assets in Europe and South America.