Geronimo Energy Announces Sale of Black Oak Getty Wind Farm to Sempra U.S. Gas & Power
MINNEAPOLIS, April 27, 2015 /PRNewswire-USNewswire/ -- Geronimo Energy, LLC ("Geronimo") is pleased to announce the sale of the Black Oak Getty wind project ("Black Oak Getty" or "Project") to Sempra U.S. Gas & Power, a leading developer of clean energy solutions in markets throughout the U.S. Sempra U.S. Gas & Power expects construction of Black Oak Getty to peak in 2016, with commercial operation anticipated by the end of 2016. Geronimo has been retained to assist in the completion of the Project's development phase.
Black Oak Getty is a 78-megawatt ("MW") wind project spread across approximately 12,000 acres in Stearns County, Minnesota. One hundred percent of Black Oak Getty's energy output is sold under a long-term Power Purchase Agreement ("PPA") with Minnesota Municipal Power Agency ("MMPA"). Black Oak Getty is expected to produce enough electricity to power approximately 30,000 homes annually and employ 250 workers at peak construction.
"Geronimo is pleased to partner with a world-class company like Sempra U.S. Gas & Power to help bring the Black Oak Getty wind farm into operation," says Geronimo Energy President, Blake Nixon. "As a result of this transaction, the Black Oak Getty wind farm will bring positive economic impact to the local area and stable, low cost renewable energy to the member communities of MMPA."
"We are pleased to have the opportunity to diversify and expand our renewables portfolio through the acquisition, development and operation of the Black Oak Getty wind project," said Patricia K. Wagner, president and CEO of Sempra U.S. Gas & Power. "We look forward to providing Minnesota with a stable supply of clean, renewable energy and becoming a long-term partner with the local community through the development and operation of this project."
"We have been pleased to work with Geronimo to bring the Black Oak Getty wind project to this stage," says Derick O. Dahlen, Executive Manager for MMPA. "MMPA's purchase from this wind project will help MMPA meet its renewable energy obligation of 25 percent in 2025."
About Geronimo Energy
Geronimo Energy is a utility-scale renewable energy development company headquartered in Edina, Minnesota. Geronimo has developed multiple operating wind farms and solar projects throughout the Midwestern United States. Together with its various project partners, Geronimo is poised to build wind projects with an aggregate nameplate capacity of over 1,000 MW and approximately 200 MW of solar projects throughout the Midwest by the end of 2016. Geronimo has a multi-gigawatt development pipeline of wind and solar projects in various stages of development throughout the United States and provides custom renewable energy development solutions for utilities and corporations looking to harness renewable energy for business growth. For more information about Geronimo Energy, visit www.geronimoenergy.com.
About Sempra U.S. Gas & Power, LLC
Sempra U.S. Gas & Power, LLC is a leading developer of renewable energy and natural gas solutions with power plants that generate enough electricity for nearly 600,000 homes and businesses. Sempra U.S. Gas & Power companies also operate natural gas storage facilities, pipelines and distribution utilities. The company is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company with 2014 revenues of approximately $11 billion. The Sempra Energy companies' 17,000 employees serve more than 32 million consumers worldwide. For more information, visit www.SempraUSGP.com.
About Minnesota Municipal Power Agency ("MMPA")
MMPA is committed to providing its 13 member communities with reliable, competitively priced power and to creating value for both the Agency and its members. The Agency is owned by its member cities and governed by a Board of Directors with representatives from each community. MMPA is an innovator, pursuing forward thinking solutions in the areas of power generation, energy conservation and renewable energy.
Contact: Lindsay T. Smith
Geronimo Energy
7650 Edinborough Way, Suite 725
Edina, MN 55435
P: (952) 988-9000
SOURCE Geronimo Energy
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