NJR Clean Energy Ventures (CEV), the clean energy subsidiary of New Jersey Resources (NYSE: NJR), announced the completion of the sale of its 9.7 megawatt (MW) wind farm in Two Dot, Montana to NorthWestern Energy for $18.5 million. The transaction, previously announced in March 2018, was approved by the Federal Energy Regulatory Commission on May 18, and is now complete.
“Clean energy is, and will continue to be, an important part of our business, and we will continue to make prudent investments to positon our company for long-term growth,” said Stephen Westhoven, chief operating officer of New Jersey Resources. “The completion of the sale of the Two Dot wind farm is the successful first step of our strategic plan, which targets the sale of our remaining onshore wind assets over the next 12 months.”
Since 2009, CEV has invested approximately $241 million in onshore wind and nearly $590 million in solar projects, and plans to invest $500 million in solar projects over the next four years. As a leading solar provider in New Jersey, CEV has more than 6,700 residential solar lease customers and 32 commercial installations, capable of producing a total of 192.7 MW of installed capacity, or enough clean energy to power over 20,000 homes annually.
New Jersey Resources | http://www.njresources.com