Geronimo buys MRP 225MW project
Geronimo Energy has bought the 225MW Green River Wind Farm project in the US state of Illinois from its current developer, Ireland’s Mainstream Renewable Power (MRP).
Minnesota-based Geronimo is already developing a wind farm adjacent to Green River – the 210MW Walnut Ridge – at the projects’ location some two hours’ drive southwest of Chicago.
Walnut Ridge is at an advanced stage and Geronimo said the acquisition of the second project makes sense on several fronts.
Blake Nixon, the company’s president, said: "It gives Geronimo flexibility and scalability when speaking with power purchasers, and it means the local communities have one point of contact, which keeps communication very simple.
“We feel that having two projects side by side in such a desirable market as Illinois strengthens the prospects for both developments."
Geronimo has qualified both wind farms under the terms of the recently-expired Production Tax Credit (PTC), the company added.
MRP started working on the up-to-225MW Green River in 2009. The project is sited on 5,500 hectares of mainly agricultural land that is said to boast “competitive” wind speeds.
Financial terms were not disclosed.