It appears Deere & Co. (NYSE: DE), the world's biggest maker of farm machinery, will no longer be blowin' in the wind.

On Tuesday, the company said that it would sell its wind energy unit, John Deere Renewables, to Chicago-based power producer Exelon (NYSE: EXC), the country's biggest nuclear generator. For $900 million, Exelon will obtain 735 megawatts of wind energy projects in eight states -- enough to power about 220,000 homes. In addition, it will gain access to nearly 1.5 gigawatts of new wind projects that are being developed, 230 megawatts of which are nearing completion.

The assets will be added to Exelon's 352 megawatts of wind power in three states. That capacity already makes Exelon the largest wholesale supplier of wind energy in the eastern half of the United States.

The transaction is expected to be completed in the fourth quarter, although Exelon has had a couple of unsuccessful efforts in recent years when plans to acquire NRG Energy (NYSE: NRG) and Public Service Enterprise Group (NYSE: PEG) fell through. If the newest deal goes through as planned, Deere will record a $25 million after-tax charge in the quarter. On Tuesday, Deere management said the sale would improve its opportunity to focus on its core business: manufacturing green-and-yellow farm equipment and other machinery.

In announcing the acquisition, Exelon CEO John Rowe said, "Not only does this acquisition add value for Exelon shareholders, providing incremental earnings in 2012 and cash flows in 2013, but it also is one more way to implement a clean energy future."

But back to Deere. The announcement of the Renewables sale came shortly after the company reported a solid quarter that plowed under analysts' expectations. In doing so, it rounded out strong results from its two key competitors, CNH Global (NYSE: CNH) and Kubota (NYSE: KUB). It also predicted earnings near $375 million for its fourth quarter, a figure that did not include the charge it expects to take in connection with the wind unit sale.   

While it once seemed that wind energy would fit nicely with Deere's agriculture-related operations, for my money, the narrowing of its strategic focus makes good sense, as does attention to the company by Foolish investors.

Fool contributor David Lee Smith doesn't own shares in any of the companies named in the above article. He does urge you to send along your comments or questions.

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