Sumitomo buys stake in Texas wind farm - Nikkei
Trading company Sumitomo Corp entered the U.S. wind power market with its acquisition of a 42.5 percent interest in a Texas wind farm, the Nikkei business daily reported.
The company, which already operates wind farms in Japan and China, purchased the stake from an investment arm of American International Group Inc for an estimated 5 billion to 10 billion yen, the paper said without citing sources.
General Electric Co owns another 42.5 percent, with the remaining stake owned by Invenergy LLC, the fifth-largest wind power company in the United States, the daily reported.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Anne Pallivathuckal)
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