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http://www.bizjournals.com/houston/s...

Wind energy developer Zilkha Renewable Energy is being acquired by the Goldman Sachs Group, a New York-based investment banking firm.The sale price of the transaction was not disclosed.

Houston-based Zilkha Renewable Energy, owned by the father-and-son team of Selim and Michael Zilkha, is one of the nation's largest independent wind energy development companies, with a portfolio of nearly 4,000 megawatts in various stages of development in a dozen states.

Goldman Sachs (NYSE: GS) will acquire 100 percent of Zilkha's interests in the 200-megawatt Flat Rock Wind Power Project in Lewis County, N.Y., as well as 100 percent of Zilkha's interest in the 150-megawatt Blue Canyon Phase II Project in Oklahoma, both of which are expected to be completed by the end of 2005.

Michael Zilkha, co-owner and director of Zilkha Renewable Energy, said Goldman Sachs' acquisition of Zilkha "is a clear sign of wind's emergence as a competitive, efficient and mainstream energy resource."

The Zilkhas started an oil and gas exploration company in 1986 and 12 years later sold it to Sonat for $1 billion. When Sonat was later acquired by El Paso Corp., the Zilkhas became major shareholders in El Paso.

After selling their oil and gas business, the Zilkhas started up Zilkha Renewable Energy. ''

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