OwnEnergy Announces Sale of its Sixth Wind Farm and its Second to NJR Clean Energy Ventures

OwnEnergy was acquired by EDF Renewables on August 22, 2015

NEW YORK,NY (February 11, 2014) – OwnEnergy, a national leader in mid-sized wind farms, today announced the sale of its Carroll Area Wind Farm project to NJR Clean Energy Ventures (NJRCEV). NJRCEV is a distributed power company that invests in, owns and operates solar and onshore wind projects that provide residential and commercial customers with low carbon solutions. The Carroll Area Wind Farm project is the sixth mid-size wind farm OwnEnergy has successfully developed and sold or financed.

Located in Iowa, 65 miles northwest of downtown Des Moines, the project was initiated in 2006 by a group of local renewable energy advocates seeking to own and develop their own wind farm. During development, the local owners facilitated a strong relationship with the community. OwnEnergy partnered with the owner group in 2011 to complete the development. “OwnEnergy has been a stellar business partner. We are proud of our renewable energy footprint in our local community,” said local partner, Ed Tomka.

Carroll Area Wind Farm will have a significant local economic impact and is expected to create approximately 80 to 100 temporary jobs during its construction phase. Once completed, the project will consist of nine, Siemens 2.3 megawatt (MW) wind turbines, for a total capacity of 20 MW.

“This is a rewarding time for us as we see our projects getting built and many years of development work producing results. Carroll Area Wind Farm is a project that has had the commitment of local investors and landowners for some time and we are excited to see it get constructed by our partners at NJRCEV,” said OwnEnergy Founder and CEO Jacob Susman.

Carroll Area is the second wind energy project NJRCEV acquired from OwnEnergy. The company’s first project, Two Dot Wind Farm in Montana, was purchased in October of 2013. The Two Dot Wind Farm ‘topped out’ in December 2013 and NJRCEV expects it to be online in the spring of 2015.

In addition to Carroll Area, OwnEnergy has developed community scale wind projects in Texas, Montana, Oklahoma, and Pennsylvania for a total of 240 MW spinning or currently in-construction. The company’s business model centers on working with local partners to bring mid-size wind farms online across the country.

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