MINNEAPOLIS -- Geronimo Wind Energy announced Monday 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 Energy Financial Services has acquired an ownership interest in the project from EGP.
The Prairie Rose Wind Farm in Rock County will consist of 119, 1.68-megawatt GE turbines. The project has a 20-year Power Purchase Agreement with Northern States Power Company, a subsidiary of Xcel Energy. The project will generate enough electricity to power approximately 75,000 homes and displace approximately 650,000 tons of greenhouse gas emissions per year.
The construction project is under way in Rock County, with up to 300 construction jobs being created, including about a dozen permanent jobs. The project is expected to be completed by the end of the year.
Once in operation, the wind farm 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 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."
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Geronimo Wind Energy, based in Edina, is a developer of utility-scale wind energy projects throughout the midwestern U.S. It has developed two operating wind farms in addition to Prairie Rose, which is under construction by EGP, the largest producer of renewable energy in the world.
The partnership with EGP, according to a press release issued Monday, gives Geronimo added expertise and capital strength necessary to deliver on projects for customers and communities.
