US gas firm enters wind space with 20% stake in OwnEnergy
Posted on Sep 20, 2012 |
This article appeared in Recharge. You can access the story here.
By Richard A. Kessler
A subsidiary of New Jersey Resources (NJR) has paid $8.8m to take 20% ownership in wind developer OwnEnergy – a sign that fossil fuel companies are looking beyond the sector's present instability and see it generating profits in the years ahead.
“We believe this ownership stake represents a sound investment for our company and look forward to developing new wind projects through this partnership to make clean energy, and its benefits, more accessible,” says Laurence M. Downes, chief executive of NJ R, a $3bn natural gas supplier in northern and central New Jersey.
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