in News Departments > Projects & Contracts
print the content item

NJR Clean Energy Ventures (NJRCEV), the unregulated clean energy subsidiary of New Jersey Resources, has announced the acquisition of its first wind project.

Named for the Montana town it is adjacent to, the Two Dot wind farm will be located on 176 acres of rural agricultural land, approximately 93 miles east of the state capital of Helena. NJRCEV will invest approximately $22 million and be responsible for constructing, owning and operating the 9.72 wind farm. The project will consist of six GE 1.62 MW wind turbines with a 87-meter rotor diameter.

“The acquisition of the Two Dot wind project is a significant milestone for NJR Clean Energy Ventures,” says Laurence M. Downes, chairman and CEO of New Jersey Resources. He adds the project “represents a viable long-term growth opportunity for our company and shareowners. We believe it is a sound investment that advances the planned diversification of our clean energy portfolio.”

The project was developed by OwnEnergy Inc., a developer of midsize and community wind projects. In 2012, NJRCEV acquired an approximate 19% ownership position in OwnEnergy, with an option to purchase projects that fit its investment profile. This is the first OwnEnergy project purchased by NJRCEV.

NJRCEV will engage Mortenson Construction for the engineering, procurement and construction of the project, and the wind farm is expected be operational by summer 2014.

The energy produced at Two Dot, as well as the renewable attributes, will be sold through a 25-year power purchase agreement with NorthWestern Energy, a natural gas and electricity supplier that serves over 673,000 customers in Montana, South Dakota and Nebraska. Additionally, NJRCEV expects the wind farm will qualify for federal production tax credits, all of which will be retained by New Jersey Resources.




Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Hybrid Energy Innovations 2015
Renewable NRG_id1934