NJ Company Places $8.8 Million Bet on Fledgling Onshore Wind Market
Posted on Sep 20, 2012 |
This article appeared in NJ Spotlight. You can access the story here.
By Tom Johnson
NJR Clean Energy Ventures is investing in the onshore wind market, even though it's uncertain whether a valuable production tax credit for wind farms will be renewed by the end of the year by Congress.
The subsidiary of Wall Township-based New Jersey Resources announced yesterday an $8.8 million investment to acquire an approximately 20 percent ownership position in OwnEnergy Inc., a developer of midsized and community wind projects.
Brooklyn-based OwnEnergy has developed and sold three projects in Texas, Oklahoma, and Pennsylvania and has in the pipeline more than 1,300 megawatts of wind projects.
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