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:
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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.
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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.
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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.
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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.
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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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180604006135/en/
Copyright Business Wire 2018
Source: Business Wire
(June 4, 2018 - 1:01 PM EDT)
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