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Clean Energy Ventures, a subsidiary of NJR, announced the sale of its remaining 117 MW wind portfolio, including four wind farms, to a subsidiary
of Skyline Renewables.
CEV entered into a purchase and sale agreement and filed a joint application with Skyline for authorization
from the Federal Energy Regulatory Commission.
Once FERC approval is obtained, the transaction is expected to close
.
The proceeds from the sale will reduce external financing needs, a factor
in NJR's current FY2019 funding guidance.
Earlier this year, CEV sold a 9.
7 MW wind farm
for $18.
5 million.
Today's announcement completes the sale
of all operating wind farms.
NJR's President and COO said, "While we have divested our current wind power portfolio, clean energy is an integral part of our business and we will continue to invest in clean energy projects
that position NJR for the long term.
”
CEV has invested about $700 million in solar projects since 2009 and plans to invest $500 million
over the next four years.
As New Jersey's leading solar supplier, CEV has approximately 7,300 residential solar rental customers and 35 commercial facilities, capable of producing a total of 231 megawatts of installed capacity or enough clean energy annually to power
more than 20,000 homes.
:/, please indicate the source for reprinting)
Clean Energy Ventures, a subsidiary of NJR, announced the sale of its remaining 117 MW wind portfolio, including four wind farms, to a subsidiary
of Skyline Renewables.
CEV entered into a purchase and sale agreement and filed a joint application with Skyline for authorization
from the Federal Energy Regulatory Commission.
Once FERC approval is obtained, the transaction is expected to close
.
The proceeds from the sale will reduce external financing needs, a factor
in NJR's current FY2019 funding guidance.
Earlier this year, CEV sold a 9.
7 MW wind farm
for $18.
5 million.
Today's announcement completes the sale
of all operating wind farms.
NJR's President and COO said, "While we have divested our current wind power portfolio, clean energy is an integral part of our business and we will continue to invest in clean energy projects
that position NJR for the long term.
”
CEV has invested about $700 million in solar projects since 2009 and plans to invest $500 million
over the next four years.
As New Jersey's leading solar supplier, CEV has approximately 7,300 residential solar rental customers and 35 commercial facilities, capable of producing a total of 231 megawatts of installed capacity or enough clean energy annually to power
more than 20,000 homes.
:/, please indicate the source for reprinting)
/
