OwnEnergy Announces Investment by NJR Clean Energy Ventures
On September 10, 2012, OwnEnergy, Inc., a leading developer of mid-sized and community wind projects, announced that NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources, has joined its ranks of investors. Wilson Sonsini Goodrich & Rosati represented OwnEnergy in connection with the transaction.
Launched in 2007, OwnEnergy provides a broad range of services to energy entrepreneurs interested in co-developing their own wind farms. The company partners with landowners, farmers, and local businesses to develop projects in the range of 10-80 megawatts, providing everything necessary for a successful project, from development and contracting to operations and maintenance. This "wind farm in a box" approach uses a combination of technology and standardized processes that enable OwnEnergy to develop mid-sized and community wind projects efficiently and cost effectively.
As part of its renewable energy strategy, CEV invests in, owns, and operates renewable energy projects that generate clean power and provide low carbon energy solutions. To date, CEV's approach has focused on commercial and residential solar project development, and its investment in OwnEnergy marks the planned diversification of its renewable energy portfolio.
For more information, please see OwnEnergy's press release.