NEW YORK (Reuters) – Deere & Co. said July 28 it has created a unit to focus on developing and funding wind energy projects and has invested in wind projects in Minnesota and Texas.
Deere also said it has no plans to manufacture wind turbines.
Wind turbines are often located on farms and given Deere’s long involvement in agriculture its participation is natural, the company said. Wind power could generate 100,000 megawatts of electricity in the United States by 2020, a 14-fold increase from last year, the company said.
Deere is looking at possible future investments in other U.S. states and internationally.
