OwnEnergy Sells “Wind Farm”
Sometimes it’s all about making the deals to develop the project as OwnEnergy announced today that it has sold the Two Dot Wind Farm in Montana to NJR Clean Energy Ventures. There’s only one catch: the 9.72 megawatt (MW) wind farm has yet to be built.
According to OwnEnergy, the project is in “shovel-ready status” meaning that NJR only needs to purchase six GE (GE :NYSE)1.62 MW wind turbines and have them installed to complete the project.
Developing a wind farm project to “shovel-ready status” is not an easy task, just ask the folks at Cape Wind.
Today’s deal has an incestuous side as NJR is OwnEnergy’s largest shareholder. But despite the close relationship and OwnEnergy’s history of developing community-scale wind projects, this is the first deal between the companies.
