NJR Clean Energy Ventures Completes Sale of Two Dot Wind Farm
June 04 2018 - 1:01PM
Business Wire
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.
About New Jersey
Resources
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. NJR is composed
of five primary businesses:
- New Jersey Natural Gas, NJR’s
principal subsidiary, operates and maintains over 7,400 miles of
natural gas transportation and distribution infrastructure to serve
over half a million customers in New Jersey’s Monmouth, Ocean and
parts of Morris, Middlesex and Burlington counties.
- NJR Clean Energy Ventures
invests in, owns and operates solar and onshore wind projects with
a total capacity of nearly 320 megawatts, providing residential and
commercial customers with low-carbon solutions.
- NJR Energy Services manages a
diversified portfolio of natural gas transportation and storage
assets and provides physical natural gas services and customized
energy solutions to its customers across North America.
- NJR Midstream serves customers
from local distributors and producers to electric generators and
wholesale marketers through its 50 percent equity ownership in the
Steckman Ridge natural gas storage facility and its stake in
Dominion Midstream Partners, L.P., as well as its 20 percent equity
interest in the PennEast Pipeline Project.
- NJR Home Services provides
service contracts as well as heating, central air conditioning,
water heaters, standby generators, solar and other indoor and
outdoor comfort products to residential homes throughout New
Jersey.
NJR and its more than 1,000 employees are committed to helping
customers save energy and money by promoting conservation and
encouraging efficiency through Conserve to Preserve® and
initiatives such as The SAVEGREEN Project® and The Sunlight
Advantage®.
For more information about NJR:
Visit www.njresources.com.Follow us on Twitter
@NJNaturalGas.“Like” us on
facebook.com/NewJerseyNaturalGas.Download our free NJR investor
relations app for iPad, iPhone and Android.
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version on businesswire.com: https://www.businesswire.com/news/home/20180604006135/en/
New Jersey ResourcesMedia:Michael Kinney,
732-938-1031mkinney@njresources.comorInvestors:Dennis Puma,
732-938-1229dpuma@njresources.com
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