NJR Clean Energy (NJRCEV), the clean energy subsidiary of New Jersey Resources, announced the completion of Two Dot wind farm, their first onshore wind project.
Spread across 176 acres in Two Dot of Montana, the wind farm consists of six, GE 1.62MW, 87meter rotor diameter wind turbines having a capacity of 9.7MW.
NJRCEV invested $22 million to develop the project and will own and operate the wind farm.
The energy produced at the Two Dot Wind Farm, and the renewable attributes, will be delivered to 25year power purchase agreement (PPA) with NorthWestern Energy, a natural gas and electricity investing unit serving 678,200 customers.
NJRCEV is putting all efforts to see that the wind farm qualifies for federal production tax credits (PTC), calculated on kilowatt-hour output. Total PTCs produced by the Two Dot wind farm will be utilized by NJR.
Laurence M. Downes, chairman and CEO, New Jersey Resources said, “The company has completed their first onshore wind project. Two Dot wind farm further displays NJR Clean Energy firm’s diversification of their investment portfolio. In addition to an annual production of clean energy for 3,000 homes per year this also representsgrowth opportunity for shareholders.”
NJRCEV invests in, owns and operates in projects that generate clean power providing low-carbon energy solutions. As part of the clean energy strategy, NJRCEV is diversifying their holdings to include small and medium sized onshore wind projects supported by long-term PPA.