A New York investment firm with an office in Pittsburgh has acquired the development rights to a 15-turbine wind energy farm in northern Cambria County, the company said today.
EverPower Wind Holdings Inc. said it acquired the rights to develop the 30-megawatt Patton Wind Farm from OwnEnergy, another New York firm, for an undisclosed price. EverPower is a subsidiary of the private equity firm Terra Firma.
OwnEnergy has been developing the project, which is expected to be operational by the end of 2012, with a local landowner partner, Martin Yahner of Elder Township. The project, which stretches across parts of Elder, West Carroll and East Carroll townships, covers 2,700 acres of farm land, EverPower said.
Construction of the wind farm is expected to create about 100 jobs, and three-to-five full-time jobs to operate and maintain the wind farm over the next 30 years, EverPower said. When completed, it is expected to provide enough renewable energy for more than 9,000 households.
The two developing companies joined forces to obtain a $3.2 million low-interest loan from the Commonwealth Financing Authority under the state’s Renewable Energy program. The state’s financing represents less than 10 percent of the development and constructions costs, EverPower spokesman Dan Lagiovane said. The state funding, however, will improve the project’s viability in the current energy market, EverPower said.
The Patton Wind Project will be EverPower’s fourth wind farm in the state, and the third in Cambria County. It developed the 62.5-megawatt Highland Wind Farm in Adams Township in 2009. It’s 75-megawatt Highland North Wind Farm is expected to be in operation by the end of the year. EverPower anticipates building the 140-megawatt Twin Ridges Wind Farm in Somerset County next year.
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