Tom Kirkman

U.S. Major 'Renewable Energy' Company Exelon in Financial Trouble, May Lose Dozens of Wind Farms and a Solar Farm

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Exelon's status as renewable power force teeters

A major California bankruptcy could lead the Chicago-based power giant to lose most of its wind farms—and a huge solar power ranch—thanks to a decision two years ago to mortgage them for hundreds of millions.

Exelon markets itself as the greenest of the country's major power generators. Much of that claim is based on the carbon-free nature of its nuclear power plants, the largest fleet in the nation, but it also stems from a substantial renewable power group, including more than 40 wind farms in 11 states.

Now a decision the Chicago-based energy giant made two years ago to pull hundreds of millions in cash out of those renewable assets while retaining operational control has put Exelon's continued ownership of at least 26 of those wind projects—and its status as a player in the renewable industry—in jeopardy. Also at risk are the bulk of Exelon's 521 megawatts in solar power projects around the country.  ...

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