NJR Clean Energy Ventures (CEV), the non-regulated clean energy subsidiary of New Jersey Resources, has announced the sale of its 9.7 MW wind farm in Two Dot, Mont., to NorthWestern Energy (NWE) for $18.5 million.
CEV entered into a purchase and sale agreement with the natural gas and electricity investor-owned utility and then submitted a joint filing for authorization with the Federal Energy Regulatory Commission (FERC). The transaction is expected to close upon FERC approval.
Located approximately 93 miles east of the state capital of Helena, the Two Dot wind farm became operational in 2014. It consists of six GE 1.62 MW wind turbines, and the energy produced is currently sold to NWE. CEV also owns and operates wind projects in Carroll County, Iowa; Rush County, Kan.; Carbon County, Wyo.; and Somerset County, Pa., with a total installed capacity of 117 MW.
“NJR Clean Energy Ventures’ wind assets, with established long-term power purchase agreements, are highly valued by the marketplace,” comments Stephen Westhoven, chief operating officer of New Jersey Resources. “The sale of Two Dot reflects the growing demand for clean energy projects, and we are taking a strategic review of our remaining wind assets.”
