NJR Clean Energy Ventures (NJRCEV) has acquired its third wind farm, the 48MW Alexander project, in Kansas, US, from OwnEnergy.
NJRCEV is the unregulated distributed power subsidiary of New Jersey Resources.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Located in Rush County in Kansas, around 120 miles north-west of Wichita, the facility will cost NJRCEV nearly $85m for its construction, ownership and operation.
The 48MW unit is expected to be in service by the thirds quarter of 2015.
Approximately 50% of the energy generated at the Alexander wind power farm will be used by the Kansas Board of Public Utilities under a 20-year power purchase agreement.
Yahoo will purchase the remaining generated power under a 15-year agreement for its energy requirements in the Great Plains.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNew Jersey Resources chairman and CEO Laurence M Downes said: "With the Alexander Wind Farm, NJR Clean Energy Ventures continues to successfully execute its distributed power strategic plan.
"As renewable energy becomes an increasingly larger and important part of our nation’s energy future, we will continue to look for investment opportunities that strengthen our distributed power portfolio, are consistent with our core values of quality service and environmental stewardship, reduce our reliance on investment tax credits from solar investments and benefit our company and shareowners."
Alexander wind farm is the third wind power acquisition by NJRCEV, with the first being the Montana-based Two Dot Wind Farm and the second one being the Carroll Area Wind Farm in Iowa.
.gif)
