NorthWestern to buy Beethoven wind project - Daily Republic
The purchase price, according to NorthWestern Energy, is $143 million and will be purchased from BayWa r. e. Wind, a renewable energy firm based in San Diego, Calif. The project includes 43 turbines and would also give NorthWestern the expansion rights to 50 megawatts in additional turbines in the future. NorthWestern already had two 20-year agreements to buy the power from the project from BayWa in place but had a right to match any package offer if BayWa chose to sell the project after it became fully operational. When BayWa moved to sell the project to a Florida company, NorthWestern exercised its right to match and purchased the project. The project was expected to cost between $110 million and $120 million for the turbines during the planning stages and produce power for 31,000 homes. “Beethoven is a natural fit for NorthWestern to serve its customers with green energy and for our business plan which is to develop, build and sell turnkey projects for our customers,” said BayWa r. e. CEO Florian Zerhusen, in a release. When sale of the project closes, NorthWestern will terminate those agreements and will place the project into their electric rate base cost, as a known and measurable adjustment. Source: www.mitchellrepublic.com
