Riker Danzig has announced that its client Olympus Power, a Morristown, NJ-based independent power producer, has acquired a 20MW operating wind farm in southwestern Minnesota from community wind developer Juhl Wind Inc. and Juhl’s development partner Suzlon Wind Energy Corp, the North American subsidiary of Suzlon Energy.
The purchase of the wind farm, located in rural Grant County, represents Olympus’ first investment in the wind generation sector and is consistent with its goals to acquire and build clean energy projects. The 20MW of energy produced is enough electricity to power 7,000 homes in the area.
Riker Danzig partner Charles Detrizio led the Riker team, with partner Cathleen Giuliana addressing the real estate aspects of the deal. “Olympus’ acquisition of this wind farm is a significant deal for it in the renewable energy area and we were very happy to have the opportunity to assist our long-standing client in the transaction,” stated Mr. Detrizio.
