NJR Clean Energy Ventures (NJRCEV) announced Sept. 29 the acquisition of the Medicine Bow Wind Farm, its fifth onshore wind project.
Located in Carbon County, Wyoming, approximately 80 miles outside of Cheyenne, the project consists of nine fully operational Vestas turbines with a total capacity of 6.3 MW. The energy produced is sold to the Platte River Power Authority, where it is distributed to municipal utilities in Estes Park, Fort Collins, Longmont and Loveland, Colorado.
“Our investment in onshore wind represents a long-term growth opportunity for our company and our shareowners,” said Laurence M. Downes, chairman and CEO of parent New Jersey Resources. “With the acquisition of the Medicine Bow Wind Farm, onshore wind now accounts for more than half of our distributed power capacity and underscores NJR Clean Energy Ventures’ continuing efforts to strengthen and diversify our portfolio, as well as our commitment to make clean energy – and its benefits – more accessible.”
Utilizing a unique program of audits, upgrades and technology improvements, Medicine Bow underwent a successful overhaul by Gamesa that extended the service life of its turbines. Based on the nature of the work, the project qualifies for federal production tax credits (PTCs), which are based on kilowatt-hour output. All PTCs generated by the wind farm will be retained by NJR.
In addition to Medicine Bow, NJRCEV placed into service:
- the Montana-based Two Dot Wind Farm in June 2014;
- the Carroll Area Wind Farm in Iowa in February 2015; and
- the Alexander Wind Farm in Rush County, Kansas, in December 2015.
The Ringer Hill Wind Farm, located in Somerset County, Pennsylvania, is currently under construction. When complete, NJRCEV’s onshore wind portfolio will total more than 126 MW.
Parent New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services.
