NJR Clean Energy Ventures acquires wind project in Kansas

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NJR Clean Energy Ventures acquires wind project in Kansas

NJR Clean Energy Ventures (NJRCEV), the unregulated distributed power subsidiary of New Jersey Resources (NJR), has announced the acquisition of the 48 MW Alexander Wind Farm in Kansas from OwnEnergy.

The Alexander Wind Farm will be located on 7,000 acres of land in Rush County, Kansas, approximately 120 miles northwest of Wichita. NJRCEV will invest approximately US$85 million to construct, own and operate the wind farm. NJRCEV’s expected in-service date is fall of 2015.

Laurence M. Downes, chairman and CEO of New Jersey Resources stated:

“With the Alexander Wind Farm, NJR Clean Energy Ventures continues to successfully execute its distributed power strategic plan. As renewable energy becomes an increasingly larger and important part of our nation’s energy future, we will continue to look for investment opportunities that strengthen our distributed power portfolio, are consistent with our core values of quality service and environmental stewardship, reduce our reliance on investment tax credits from solar investments and benefit our Company and shareowners.”

The Kansas City Board of Public Utilities (KCBPU) has signed a 20-year PPA (power purchase agreements) for approximately 50% of the energy. The remaining energy will be purchased through a 15-year PPA by Yahoo!, Inc., the global Internet corporation headquartered in Sunnyvale, CA. Yahoo will use the wind power to offset much of its energy usage in the Great Plains region.

It is the third and largest wind farm project NJRCEV purchased from OwnEnergy. The first was the Montana-based Two Dot Wind Farm, placed in service in June 2014. NJRCEV expects to place the second project, the Carroll Area Wind Farm, located in Iowa, in service by spring of 2015.

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