BayWa r.e. Wind, LLC announced that it has completed its third project acquisition of 2016 after it purchased the late-stage Greycliff project from its original owners, which includes National Renewable Solutions, LLC (NRS) of Minneapolis.
Greycliff Wind is a planned 25-MW wind project in Montana, set to deliver residents with low-cost electricity.
All assets are held in Big Timber Wind, and BayWa will immediately begin with the construction of the project which is slated to be placed in service in 2017.
“With this third acquisition added to our pipeline, construction completion of our Chopin project and safe harboring of turbines, we are wrapping up quite an eventful year and see ourselves well positioned for future growth,” stated Florian Zerhusen, CEO of BayWa r.e. Wind. “This is the second project we acquired from NRS and we are looking forward to a successful completion next year.”
The 25-MW project will deploy GE wind turbines, and sell the energy under a long-term power purchase agreement to NorthWestern Energy.
“After several years in the making, NRS alongside our partners in the project, Montana Wind Resources and the Hobble Diamond Ranch, are pleased to see the Greycliff project move to construction with BayWa r.e., which when operating, will generate substantial benefits to Sweet Grass County,” said Patrick Pelstring, CEO of NRS, Greycliff’s former developer.
“This project brings our development portfolio to over 540 MW of completed or “construction-ready” sales, and is an important milestone for our company,” he added.
Filed Under: News, Projects