NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources (NYSE: NJR), completed a $42 million wind energy project in Iowa.
The Carroll Area Wind Farm uses nine Siemens (NYSE: SI) SWT 2.3-MW, 108-meter rotor diameter wind turbines for a total capacity of 20 MW. The entire output will be sold through a 25-year power purchase agreement with MidAmerican Energy. Mortenson Construction was the engineering, procurement and construction contractor on the project. NJRCEV acquired the project from OwnEnergy Inc. in February 2014.
The Carroll Area Wind Farm is NJRCEV’s second onshore wind project. The company completed the 9.7-MW Two Dot Wind Farm in Montana in July 2014.