BayWa r.e. Wind LLC has completed its third project acquisition of the year, having purchased the late-stage Greycliff project from its original owners, which include National Renewable Solutions LLC (NRS) of Minneapolis.
As reported, all assets are held in Big Timber Wind LLC, and BayWa will immediately begin the construction of the project, which is slated to be placed into service in 2017.
With a capacity of 25 MW, the project will deploy GE turbines and sell the energy under a long-term power purchase agreement to NorthWestern Energy.
“With this third acquisition added to our pipeline, construction completion of our Chopin project and safe harboring of turbines, we are wrapping up quite an eventful year and see ourselves well positioned for future growth,” says Florian Zerhusen, CEO of BayWa. “This is the second project we acquired from NRS, and we are looking forward to a successful completion next year.”
Patrick Pelstring, CEO of NRS, Greycliff’s former developer, says, “After several years in the making, NRS, alongside our partners in the project, Montana Wind Resources and the Hobble Diamond Ranch, are pleased to see the Greycliff project move to construction with BayWa r.e., which, when operating, will generate substantial benefits to Sweet Grass County.”
He adds, “This project brings our development portfolio to over 540 MW of completed or ‘construction-ready’ sales and is an important milestone for our company.”
