Deere & Company announced the company has signed a definitive sale agreement with Exelon Generation Company under which Deere is selling its renewable energy business unit John Deere Renewables (JDR). JDR has a total of 735 MW of operational renewable energy capacity, in eight states, totalling in 36 projects.

The sale brings USD 900 million into Deere & Company's bank account, and substantial funds for investment into the strategic expansion of its core business, which is equipment. The JDR sale is subject to regulatory approvals, but it is expected the sale will be formally closed before the end of 2010.

[source: Deere & Company]