Geronimo Wind Energy Sells the Prairie Rose Wind Farm to Enel Green Power

August 8, 2012 by  
Filed under Wind Energy Tips

MINNEAPOLIS–(BUSINESS WIRE)–Geronimo Wind Energy (Geronimo) announced today the sale of its 200
megawatt Prairie Rose Wind Farm to its strategic partner, Enel Green
Power (EGP). Subsequent to the purchase of the project, General Electric
(NYSE: GE) unit GE Financial Services has acquired an ownership interest
in the project from EGP.

“We are very pleased
to bring EGP and its world class operating knowledge to the project and
the community that is hosting it.”

The Prairie Rose Wind Farm is located in Rock County in southwestern
Minnesota and will consist of 119 1.68-megawatt GE turbines. The project
has a 20-year Power Purchase Agreement with Northern States Power
Company (NSP), a subsidiary of Xcel Energy (NYSE: XEL). The project will
generate enough electricity to power approximately 75,000 homes and
displace approximately 650,000 tons of greenhouse gas emissions per
year. Rock County and its residents in particular will benefit from
Prairie Rose, which is expected to create up to 300 construction jobs,
about a dozen permanent jobs, and will contribute approximately $850,000
annually in tax revenue to the county and townships. In addition,
landowner payments from the project exceed $1 million per year. The
project is currently under construction and will be completed by the end
of the year.

“The sale of the Prairie Rose Wind Farm to our strategic partner Enel
Green Power represents a very important milestone in our company’s
history,” said Geronimo’s president, Blake Nixon. “We are very pleased
to bring EGP and its world class operating knowledge to the project and
the community that is hosting it.”

About Geronimo Wind Energy

Geronimo Wind Energy (Geronimo), based in Edina, Minnesota, is a
developer of utility-scale wind energy projects throughout the
Midwestern United States. Geronimo has developed two operating wind
farms and the 200 MW Prairie Rose Wind Farm in southwestern Minnesota
which is under construction by their strategic partner Enel Green Power
(EGP), the largest producer of renewable energy in the world. The
partnership with EGP gives Geronimo added expertise and capital strength
necessary to deliver on projects for customers and communities. For more
information about Geronimo Wind Energy, please visit www.geronimowind.com.

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