Crocker Community Fund Established, Bringing Geronimo Energy's Total Estimated Community Fund Donations to Over $9.6 Million Over 20 Years

Rhea-AI Summary

On August 13, 2020, Geronimo Energy announced the establishment of the Crocker Community Fund Board to support local communities connected to the 200 MW Crocker Wind Farm in Clark County, SD. This initiative is part of American Wind Week and aims to provide approximately $800,000 in charitable funding over 20 years, with annual contributions of $40,000. The wind farm is expected to generate $18 million in new tax revenue and $24 million in landowner payments. Geronimo has committed over $9.6 million in Community Funds across the nation to date.

Positive

• Crocker Wind Farm expected to generate $18 million in new tax revenue.
• Estimated $24 million in landowner payments during the first 20 years.
• Crocker Community Fund to provide $800,000 in local charitable funding.

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• None.

MINNEAPOLIS, Aug. 13, 2020 /PRNewswire/ -- In celebration of the American Wind Energy Association's American Wind Week, Geronimo Energy (Geronimo), a National Grid company, announced today that it has established a local charitable giving board, named the Crocker Community Fund Board (the Fund), for the benefit of the communities connected to the Crocker Wind Farm (Crocker). Crocker is a 200 megawatt (MW) operational wind energy project located in Clark County, SD. Crocker has executed Virtual Power Purchase Agreements (VPPA) with Walmart and Cargill, utilizes GE turbines, and was constructed by Wanzek Construction.

Crocker began operations in late 2019 and brings economic benefits to the local and state economies. At the peak of construction, Crocker had over 200 construction workers onsite and has since employed 10 full-time employees at its Operations and Maintenance building. Additionally, the project is estimated to produce $18 million in new tax revenue and $24 million in landowner payments during the first 20 years of operations.

Unique to Geronimo, its large-scale operating wind farms further benefit from a charitable fund called Community Funds. The contributions from Community Funds are above and beyond any tax revenue or other economic impacts from Geronimo's projects and are meant as charitable donations to the local project host communities. To date, Geronimo has initiated thirteen wind farm Community Funds across the nation, resulting in a total commitment of over $9.6 million in charitable donations over the first 20 operational years of these projects. 

In Clark County, the Crocker Community Fund will receive an estimated $40,000 per year for a period of 20 years, totaling approximately $800,000 in local charitable funding. The Fund board has been elected and is composed of local landowners in the project footprint, as well as Clark County residents. The Fund donations will be funded by Geronimo and dispersed by the newly elected board to support charitable causes within and near Crocker.

"As a member of the Crocker Community Fund Board, I am excited to see what we can do for our community over the next 20 years with the funds we will receive from Geronimo Energy," stated Jody Obermeier, a Crocker Community Fund Board member and landowner within the Crocker Wind Farm. "We are in the set-up stages right now as a board and fund. The Crocker Community Fund is going to be a great asset to our small community, and as a board, we will see that the funds are used to have the greatest community impact."

"We are a community-focused and farmer-friendly company, and our Community Funds are at the heart of this value system," stated David Reamer, President for Geronimo Energy. "In addition to the economic benefits our projects offer, such as tax revenue and job creation, we are committed to giving back to the host communities where we develop wind farms. We've been working in the Clark County area for over a decade, and we couldn't be more excited to see the Crocker Community Fund established to benefit our neighbors and friends."

About Geronimo Energy
Geronimo Energy, a National Grid (NYSE: NGG) company, is a leading North American renewable energy development company based in Minneapolis, Minnesota, with satellite offices located throughout multiple states in the regions where it develops, constructs, and operates. As a farmer-friendly and community driven company, Geronimo develops projects for corporations and utilities that seek to repower America's grid by reigniting local economies and reinvesting in a sustainable future. Geronimo has developed over 2,400 megawatts of wind and solar projects that are either operational or currently under construction, resulting in an investment of over $4 billion in critical energy infrastructure and the revitalization of rural economies. Geronimo has a vast development pipeline of wind and solar projects in various stages of development throughout the United States. Please visit www.geronimoenergy.com to learn more.

Contact:	Andréa Savage
	Geronimo Energy
	8400 Normandale Lake Boulevard
	Suite 1200
	Bloomington, MN 55437
	952.300.9480, asavage@geronimoenergy.com

 

 

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SOURCE Geronimo Energy

FAQ

What is the Crocker Community Fund established by Geronimo Energy?

The Crocker Community Fund is a charitable initiative to support local communities connected to the Crocker Wind Farm, providing approximately $800,000 over 20 years.

How much tax revenue is expected from the Crocker Wind Farm?

The Crocker Wind Farm is expected to generate $18 million in new tax revenue.

What are the benefits of the Crocker Wind Farm to local landowners?

Landowners are expected to receive $24 million in payments over the first 20 years of the wind farm's operation.

How much has Geronimo Energy committed to Community Funds nationwide?

Geronimo Energy has committed over $9.6 million in Community Funds across the nation to date.

When did the Crocker Wind Farm begin operations?

The Crocker Wind Farm began operations in late 2019.