OwnEnergy Announces Sale of Montana Wind Farm to NJR Clean Energy Ventures
NEW YORK, Oct. 24, 2013 /PRNewswire/ -- OwnEnergy, the national leader in mid-sized wind farms, today announced the sale of its Two Dot Wind Farm to NJR Clean Energy Ventures (NJRCEV). Two Dot will be the 4th wind farm OwnEnergy has brought to shovel-ready status and sold.
The Two Dot Wind Farm is located in Montana, 93 miles east of Helena. OwnEnergy partnered with local wind entrepreneurs Dave Healow and Dana Dogterom to develop the project. Two Dot is expected to create 40-60 temporary jobs during its construction phase and according to the National Renewable Energy Laboratory's JEDI analysis, the project will have a total local economic impact of $8.2 million. Once completed, Two Dot will consist of six, GE 1.62 MW wind turbines, for a total capacity of 9.72 MW.
"The Two Dot project is the latest example that our breakthrough development model for community scale projects is working. It's also affirmation that our relationship with NJR Clean Energy Ventures, as both a corporate and project investor, is bearing fruit," said OwnEnergy Founder and CEO Jacob Susman. "We're very proud of our local partner Dave Healow, who will be recognized next month by AWEA for Outstanding Achievement in Distributed Wind."
NJRCEV is OwnEnergy's largest shareholder and the purchase of Two Dot will be NJRCEV's first wind energy project.
David Healow is a 50-year veteran of the wind industry. He has played a role in bringing many Montana wind farms online, and currently supervises operations at several, including the first and longest running Montana wind farm, in Livingston, Montana.
"I'm thrilled to see that another wind farm will join Montana's energy infrastructure. Jacob Susman and the team at OwnEnergy have cracked the code on producing community scale wind, and I look forward to partnering with them on more successful projects in the years to come."
OwnEnergy has previously developed community scale wind projects in Texas, Oklahoma and Pennsylvania for a total of 141 MW. The company's business model centers on working with local partners to bring 20-80MW wind farms online across the country.
OwnEnergy is the national leader in community scale wind energy development that enables landowners and communities to build and profit directly from their own local wind farms. The Company works in partnership with its nationwide network of energy entrepreneurs to develop the approximately 1,400MW of community-scale wind farms in its pipeline. OwnEnergy has a breakthrough business model for the profitable and capital-efficient development of these mid-size wind farms that involves community ownership and proprietary development systems. The power of the company's business model is proven by the 150MW of community scale wind it has already successfully developed. OwnEnergy is based in Brooklyn, New York and is active in sixteen US states. For more information about OwnEnergy visit www.ownenergy.net.