ABB_id2059
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.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015