BayWa r.e. Wind, LLC announced today that it has completed its third project acquisition of the year after it purchased the late stage Greycliff project from its original owners, which includes National Renewable Solutions, LLC (NRS) of Minneapolis.
All assets are held in Big Timber Wind, LLC and BayWa r.e. will immediately begin with the construction of the project which is slated to be placed in service in 2017.
With a capacity of 25 MW, the project will deploy GE turbines and sell the energy under a long term power purchase agreement to NorthWestern Energy.
“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, LLC. “This is the second project we acquired from NRS and we are looking forward to a successful completion next year.”
“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 National Renewable Solutions, LLC, 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.”
National Renewable Solutions LLC (NRS):
NRS is a utility scale community wind and solar project developer with a unique development model under which individual community landowners are equity investors in the project companies. Since formation, NRS have successfully developed, contracted and sold projects representing over 540 MW, of which 342 MW will be operational by the end 2017. Additionally, NRS has 8 project holdings under development – cumulatively over 1,920 MW of wind assets and over 265 MW of solar opportunities.