Renewables Now
Summary
Clearway Energy Inc (NYSE:CWEN) said on Monday it has finalised the acquisition of a 264-MW wind farm in West Virginia from commodity trading group Castleton Commodities International.
The purchase price for the Mt Storm park was not disclosed. Clearway explained that the deal supports the company’s geographic diversification and accretive growth strategy, adding that it will enable it to achieve operational efficiencies.
Located in Grant County, Mt Storm was put on stream back in 2008 and is feeding electricity into the PJM market. It is equipped with 132 Gamesa G80 turbines.
The scheme was originally launched by Nedpower Mount Storm LLC, a joint venture between Shell and Dominion Resources. Castleton bought a 50% stake in the project vehicle in June 2019 and a few months later became its sole owner.
Clearway Energy currently has wind and solar parks in the US with a combined net capacity exceeding 4,200 MW. In addition, it has some 2,500 MW of natural gas plants and a portfolio of district energy systems. Its CEO Christopher Sotos noted that the company, together with its sponsor Clearway Group, will seek to invest in other renewable energy projects in West Virginia.
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