Enron agrees to sell Enron Wind to GE

Bankrupt Houston energy company Enron Corp. said Feb. 20 it agreed to sell the wind turbine manufacturing assets of Enron Wind Corp. to the power systems division of Fairfield, Conn., conglomerate General Electric Co.

Enron did not reveal the purchase price, but spokesman John Ambler said he wouldn't argue with the reported $250 million sale price.

"I'm not going to dispute the number, but I'm not in a position to confirm it, either," he said. GE also didn't reveal a purchase price, saying the deal would probably close in April.

"The acquisition of Enron Wind represents GE Power Systems' initial investment into renewable wind power, one of the fastest growing energy sectors," said John Rice, president and CEO of GE Power Systems. "This acquisition will broaden the environmentally friendly, power generation options available to our customers."

Weil, Gotshal & Manges llp attorney Martin Bienenstock, who...