Marubeni Goes Wind Farm Shopping in California
Marubeni Corp. is Japan's largest trading house. The company said it will acquire California wind power generation company Oak Creek Energy Systems Inc. in January. The move is to expand into North America wind power generation. Marubeni received approval from California's to get a 56.3 percent stake in OCES. Marubeni paid $21.5 million for 1.32 million new privately issued OCES shares.
In that was $4.9 million for equity warrants.
So, now Marubeni gets to lose money on wind power instead of just Oak Creek.
The giant whirlygigs on the hill up the stree from me….ugly, and they only whirl sometimes.
Can't seem its worth it to me.
What do you think?
