NJR Clean Energy Ventures (NJRCEV), the unregulated clean energy subsidiary of New Jersey Resources (NYSE:NJR) said June 26 that it has completed the Two Dot wind project in Montana.
The project, with a capacity of almost 10 MW, is the company’s first onshore wind project. It also has a 25-year power purchase agreement (PPA) with NorthWestern Energy (NYSE:NWE) a natural gas and electricity investor-owned utility that serves over 678,200 customers in Montana, South Dakota and Nebraska.
Additionally, NJRCEV expects the wind farm will qualify for federal production tax credits (PTC), which are based on kilowatt-hour output. All PTCs generated by the Two Dot Wind Farm will be utilized by NJR.
The project, located on 176 acres in Two Dot, Mont., consists of six General Electric (NYSE:GE) 1.62-MW, 87-meter (285 feet) rotor diameter wind turbines with a capacity of 9.7 MW. NJRCEV invested approximately $22m to develop the project and will own and operate the facility.
NJR Clean Energy Ventures is a clean energy company that invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 75 MW, providing residential and commercial customers with low-carbon solutions.