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NJ Resources sells Montana wind farm for $18.5 million

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NJR Clean Energy Ventures, the non-regulated clean energy subsidiary of New Jersey Resources, has sold its 9.7-megawatt wind farm, Two Dot, to Northwestern Energy for $18.5 million.

The wind farm, located near Montana’s capital of Helena, became operational in 2014 and consists of six 1.6GW wind turbines. The energy they produced was sold to Northwestern Energy to help power to eight different counties in Montana, Iowa, Kansas, Wyoming and Pennsylvania, as well as Somerset County.

“The sale of Two Dot reflects the growing demand for clean energy projects, and we are taking a strategic review of our remaining wind assets,” said Stephen Westhoven, chief operating officer of New Jersey Resources. “Clean energy is, and will continue to be, an important part of our business.”

NJR CEV plans to invest an additional $500 million over the next four years in solar and wind energy projects in New Jersey and other regions of the country. It already has a clean energy portfolio totaling $241 million in onshore wind and nearly $590 million in solar projects.

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Vince Calio

Vince Calio

Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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