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An agreement has been formed between Nautilus Solar Energy, SunDurance Energy, and the William Paterson University to construct what is being called the largest solar energy facility built at a university in the U.S. The 3.5MW project will be based at WPU's campus in Wayne, New Jersey.
The project will involve both rooftop and car park solar installations. The first 3MW is expected to be fully operational by the summer of 2010, while the remaining 500kW is should be complete by early 2011.
Nautilus Solar's involvement, aside from ownership, will include the financing and operation of the project. This will be achieved under a 15-year PPA through which WPU will purchase a renewable energy source at a reduced rate without any upfront costs. The solar power system is expected to reduce WPU's energy costs by US$4.3 million over the 15-year term.
While Nautilus Solar is funding part of the installation through a loan provided by New Jersey Economic Development Authority, the project will be designed and constructed by SunDurance Energy.
Stephen Bolyai, WPUNJ's vice president for administration and finance, said, "This project will be a landmark project for the University. In addition to reducing our energy costs and carbon footprint, the solar facility will provide excellent learning opportunities to our students."
"By creatively using its parking areas to maximize productive space, William Paterson University is expanding the potential for solar energy in New Jersey," said Al Bucknam, CEO of SunDurance Energy. "SunDurance Energy is thrilled to be designing and building this innovative project in collaboration with our financing partner, Nautilus Solar Energy."
"The project will contribute to a reduction of air pollution and improve the air quality in New Jersey, while creating green jobs in the region. We are looking forward to installing similar solar facilities at other schools and universities," said Laura Stern, president of Nautilus Solar.
