in News Departments > Projects & Contracts
print the content item

NJR Clean Energy Ventures (NJRCEV), the unregulated distributed power subsidiary of New Jersey Resources (NJR), has agreed to acquire its second wind project. The 20 MW Carroll Area wind farm will be located on 1,100 acres of rural agricultural land in Carroll County, Iowa, approximately 65 miles northwest of Des Moines.

NJRCEV says it will invest approximately $42 million to construct, own and operate the wind farm. The company agreed to acquire the shovel-ready project from OwnEnergy Inc., a developer of midsize and community wind projects. It will be NJRCEV's second wind farm purchased from OwnEnergy; the first was the Montana-based Two Dot wind farm in 2013. NJRCEV maintains an approximate 19% ownership position in OwnEnergy and holds an option to purchase projects that fit its investment profile.

The energy produced at the Carroll Area wind farm, as well as the renewable attributes, will be sold through a 25-year power purchase agreement with utility company MidAmerican Energy. Additionally, NJRCEV says it expects the wind farm to qualify for federal production tax credits.

NJRCEV will engage Mortenson Construction for the engineering, procurement and construction of the project. The wind farm is slated to be operational by spring 2015.



Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965