NRG Yield acquires largest wind farm in U.S. for 870M

Emily Bader//August 13, 2014//

Listen to this article

Princeton-based NRG Yield Inc. on Wednesday announced it has acquired the Atla Wind facility in California from Terra-Gen Power LLC for $870 million.The acquisition, which totals more than 947 megawatts of wind energy when operating, also includes multiple land leases associated with the Tehachapi, California-based facility.

“Completing this acquisition of North America’s largest wind facility not only showcases our ability to compete for and close deals for premier assets, it also underscores our commitment to carbon-free generation that will help accelerate the movement to a clean energy future,” NRG Chairman and CEO David Crane said in a prepared statement. “We welcome Alta Wind to our portfolio of contracted assets that contribute to visible dividend growth for our investors while supporting our sustainability goals by providing clean electricity from wind generation for tens of thousands of American homes.”

NRG is also assuming $1.6 million of non-recourse project financings.

ALSO ON NJBIZ:

As officials react to announcement that Revel will close, A.C. mayor is critical of decision

The 10 unfriendliest cities in the country: New Jersey puts two on the list — including No. 1

EDA votes to approve more than $27M in Grow NJ incentives