As part of the deal, NJRCEV will invest around $42m to build, own and operate the wind farm, totaling 20MW, on about 1,100 acres of rural agricultural land.
The company is planning to sell energy produced at the wind farm to MidAmerican Energy, under the 25-year power purchase agreement.
NJRCEV also purchased the Montana-based Two Dot wind farm from OwnEnergy in 2013.
New Jersey Resources chairman and CEO Laurence Downes said the NJRCEV continues to successfully execute its distributed power strategic plan with the Carroll Area wind farm project.
"As renewable energy becomes an increasingly larger and important part of our nation’s energy future, we will continue to identify investment opportunities that strengthen our distributed power portfolio, reduce our reliance on investment tax credits from solar investments, benefit our company and shareowners and are consistent with our core values of quality service and environmental stewardship," Downes added.
