Geronimo Energy Sells Portfolio of Wind and Solar Energy Projects to BHE Renewables
Projects located in Nebraska, Minnesota and Illinois total over 650 megawatts of clean energy.
- Minneapolis-St. Paul, MN-WI (1888PressRelease) May 26, 2015 - Geronimo Energy, LLC ("Geronimo") is pleased to announce the sale of a portfolio of its wind and solar energy projects to BHE Renewables, LLC ("BHE Renewables"), a subsidiary of Berkshire Hathaway Energy. Included in the portfolio acquired by BHE Renewables are: the Grande Prairie Wind Farm ("Grande Prairie") in Holt County, Nebraska; the Walnut Ridge Wind Farm ("Walnut Ridge") in Bureau County, Illinois; and a portfolio of Minnesota solar project developments ("the Solar Portfolio").
Each of the acquired projects will bring substantial economic impact to its local host area, including funds from additional tax revenue, landowner payments and other contributions to the local community, as well as the creation of both part-time and full-time permanent local jobs.
Grande Prairie is a 400 megawatt ("MW") wind farm development located in northeastern Nebraska. Omaha Public Power District ("OPPD") has contracted to purchase the entire 400 MW of Grande Prairie's capacity. Once constructed, Grande Prairie will be the largest wind energy project in the state of Nebraska and will increase the state's wind energy capacity by approximately 50 percent. Construction of Grande Prairie is expected to begin in 2015, with commercial operation beginning in 2016.
Walnut Ridge is an up to 225 MW wind farm development located in north central Illinois. The General Services Administration ("GSA") of the United States Federal Government has entered into a Power Purchase Agreement ("PPA") for 140 MW of Walnut Ridge's capacity. Development of Walnut Ridge is expected to continue throughout 2015 with plans to construct the facility in 2016.
The Solar Portfolio includes seven solar developments throughout the state of Minnesota and is part of Xcel Energy's Community Solar Garden Program. Construction of the Solar Portfolio is anticipated to occur in 2016 and is being marketed towards Xcel Energy's Solar Rewards Community Program. Current subscribers to the Solar Portfolio include, but are not limited to, St. Paul Public Housing Agency, St. Olaf College and District Cooling St. Paul (an affiliate of District Energy St. Paul).
"We are excited to work with BHE Renewables, one of the most capable owners of renewable projects in the world, to bring these projects to fruition," says Geronimo Energy President, Blake Nixon. "Our relationship with BHE Renewables will help us deliver on our promise to positively impact the projects' host community economies and make substantial investments in America's farmland."
"BHE Renewables looks forward to becoming a part of the local communities where these projects are located," said Bill Fehrman, president and CEO of BHE Renewables. "Our team understands the positive impact these projects will have on the local economy with jobs, landowner lease payments and additional tax revenue for the counties, schools, fire districts and townships."
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. Approximately 1,000 MW of wind projects and 200 MW of solar projects developed by Geronimo throughout the Midwest are expected to be constructed 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. Geronimo 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 BHE Renewables
BHE Renewables is a wholly owned subsidiary of Berkshire Hathaway Energy and is headquartered in Des Moines, Iowa. Since 2011, BHE Renewables has invested extensively in solar, wind, geothermal and hydro projects. As a long-term owner of assets, the company's wind projects include the 300-megawatt Jumbo Road project near Hereford, Texas; 168-megawatt Pinyon Pines I and 132-megawatt Pinyon Pines II projects, located near Tehachapi, California; 81-megawatt Bishop Hill II project in Henry County, Illinois; 400-megawatt Grande Prairie project in Holt County, Nebraska, which will begin construction in 2015; and an up to 225-megawatt Walnut Ridge project in Bureau County, Illinois, which is still in development. The company's photovoltaic solar projects include the 550-megawatt Topaz Solar Farms in San Luis Obispo County, Calif.; the 579-megawatt Solar Star projects, two projects co-located in Kern and Los Angeles counties in California; a 49 percent ownership interest in the 290-megawatt Agua Caliente project in Yuma County, Ariz.; and a portfolio of Minnesota solar project developments. More information is available at www.bherenewables.com.
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