MINNEAPOLIS, July 21, 2020 /PRNewswire/ -- Geronimo
Energy (Geronimo), alongside power purchasers and community
members, celebrated today the economic and social benefits from the
operational 194 megawatt (MW) Green River Wind Farm (Green River). Green
River, located in Lee and
Whiteside Counties in Illinois within the PJM Regional Transmission
Operator (RTO) system, began major onsite construction activities
in June 2018 and entered operations
at the end of 2019.
Green River has Virtual Power
Purchase Agreements (VPPA) with Apple, Akamai Technologies, and
Swiss Re, as well as a Power Purchase Agreement (PPA) with Illinois
Municipal Electric Agency (IMEA). Akamai, Etsy and Swiss Re
previously had limited opportunity to access large renewable energy
projects in the regions covered by the thirteen state PJM wholesale
electric market. By collaborating with Apple, these companies were
able to access wind and solar power from the new projects at
competitive prices and agreement terms. Collaborations like this
accelerate the pace at which new renewable energy generation is
built and brought online.
3Degrees facilitated the renewable energy aggregation with the
corporate power purchasers. The project was built by Mortenson and
utilizes Siemens Gamesa wind turbines. It was developed and is
operated by Geronimo Energy.
The project employed approximately 200 construction workers at
its peak and boosted local economies with increased local spending
as a direct result of this influx of temporary workers. As an
operating project, Green River has
begun to provide positive long-term economic impacts to the local
and state communities. The project has created 11 new full-time
jobs at its Operations & Maintenance building located in
Deer Grove, Illinois.
Additionally, throughout the first 20 years of operations, Geronimo
estimates the project will provide $35
million in new tax revenue and $20
million in landowner payments.
"In this time of budget uncertainty, Ohio Community School
Districts #17 and #505 are excited to begin planning how to best
use the new tax revenue generated by Green River Wind Farm," stated
Jennifer Hamilton, Superintendent
for the Ohio School District's
Elementary and High Schools. "The Green River Wind Farm brings an
increase in combined revenue of at least $650,000 to the Ohio District boundaries - a more than 15%
increase to the operating budgets for both of the Ohio School
Districts - and provides the students of Ohio Community Schools and local residents
significant benefits. This new tax revenue generated by
Green River allows each District
to further our focus on student achievement, continue with our
building improvement plans, and reduce our local property tax
rate."
"Bureau Valley is fortunate to be in an area where our EAV has
risen substantially over the past couple of years. Much of our
increased assessed value is a result of new wind farms, including
Green River Wind Farm, constructed inside our district boundaries,"
stated Jason Stabler, Superintendent
for Bureau Valley School District. "The anticipated additional
revenue, as a result of our increased EAV, comes at a critical time
for our district and our country as we face many uncertainties in
the near future. The additional resources will help us continue to
provide support for our families and communities of Bureau
Valley."
The communities surrounding Green
River will also benefit from the Green River Community Fund
(the Fund). The Fund's board of directors has been elected and is
comprised of local residents and landowners in and around the
project footprint. The charitable donations, totaling $776,000 over a 20-year period, will be directed
by this local board and are above and beyond all tax revenue
generated by the project. The Fund's board anticipates calling for
grant applications from local charities at the end of 2020.
"The Green River Community Fund contributions of $38,800 per year are a wonderful benefit for our
community," stated Rick Clary, newly
elected President of the local Green River Community Fund. "These
donations will help our community board give back to local
non-profit organizations and further enrich and strengthen our
community and our residents. We couldn't be more excited to begin
the process of formalizing our board and look forward to being able
to start accepting grant applications later this year."
"We're very pleased to see the Green River Wind Farm achieve
commercial operation," said Kevin
Gaden, President & CEO for IMEA. "This resource fits our
needs to cost effectively add another carbon-free source while we
continue to diversify our portfolio. We are proud to be a part of
an Illinois-based project that
will bring power to the Member municipalities we serve across the
state."
"Swiss Re has been an avid supporter of sustainable business
practices as an insurer as well as a global corporate citizen,"
said Brian Beebe, Head of
Origination North America, Weather and Energy, Swiss Re Corporate
Solutions. "To our employees we provide 100% impactful green power
by entering a long-term contract with the Green River Wind Farm. To
our customers we provide tailored insurance solutions that bring
their renewables projects across the finish line."
"We are very happy to see the Green River project come online
and provide renewable energy for our data center operations in
Illinois," said Mike Mattera, director of sustainability, Akamai
Technologies Inc. "This marks an important milestone in our global
strategy and contributes to reducing our environmental impact in
the areas where we work, operate and live. In addition to this
project providing renewable energy to our data center footprint, it
is great to see the tax revenue support local education initiatives
in the Bureau Valley School District."
About Geronimo Energy
Geronimo Energy, a National Grid
(NYSE: NGG) company, is a leading North American renewable energy
development company based in Minneapolis,
Minnesota, with satellite offices located throughout
multiple states in the regions where it develops, constructs, and
operates. As a farmer-friendly and community driven company,
Geronimo develops projects for corporations and utilities that seek
to repower America's grid by reigniting local economies and
reinvesting in a sustainable future. Geronimo has developed over
2,400 megawatts of wind and solar projects that are either
operational or currently under construction, resulting in an
investment of over $4 billion in
critical energy infrastructure and the revitalization of rural
economies. Geronimo has a vast development pipeline of wind and
solar projects in various stages of development throughout
the United States. Please visit
www.geronimoenergy.com to learn more.
Contact:
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Andréa
Savage
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Geronimo
Energy
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8400 Normandale Lake
Boulevard
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Suite 1200
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Bloomington, MN
55437
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952.988.9000
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SOURCE Geronimo Energy