Minnesota-based Geronimo Energy has announced the acquisition of the up-to-225 MW Green River wind farm from Ireland-based Mainstream Renewable Power. Located in Illinois, the project is adjacent to Geronimo's 210 MW Walnut Ridge wind farm, which the company says is at the advanced stages of development.
Immediately following the acquisition, Geronimo says it took steps to qualify Green River under the production tax credit (PTC), which expired Dec. 31, 2013. Although the PTC was allowed to expire at the end of 2013, Green River will still be eligible to receive tax credits under the PTC for upwards of 10 years. Geronimo took the same steps for Green River's sister farm, Walnut Ridge.
Mainstream began working on Green River in 2009, with the acquisition of two transmission queue positions from FPC Services Inc. It encompasses 13,500 acres of land located approximately two hours southwest of Chicago. Geronimo says the area is primarily flat agriculture land that boasts tremendously competitive wind speeds for the Illinois PJM market.
‘This acquisition benefits all interested parties,’ says Blake Nixon, president of Geronimo Energy. ‘It gives Geronimo flexibility and scalability when speaking with power purchasers – and it means the local communities have one point of contact, which keeps communication very simple. We feel that having two projects side by side in such a desirable market as Illinois strengthens the prospects for both developments.’
