NJR Clean Energy Ventures will build its fourth onshore wind farm in Somerset County, Pennsylvania.
NJR will invest around $84m to build, own and operate the 39.9MW Ringer Hill wind farm which will feature 14 GE turbines.
NJR Chairman Laurence Downes said: “Wind is an increasingly important segment of our nation’s energy mix and we are pleased to do our part to bring renewable energy to the marketplace.”
“Our investment in Ringer Hill further diversifies our distributed power portfolio, represents the continuation of our Company’s long-term growth strategy and provides value to our shareowners.”
Most of the energy produced will be hedged under a 15-year agreement with an industrial counterparty and NJR expects the wind farm will qualify for federal production tax credits.
The Ringer Hill wind farm is about 60 miles southeast of Pittsburgh and is expected to be operational in the first quarter of 2017.
Image: Wind farm (sxc)
