Constellation Energy has bought a 7.8MW PV project in Vineland, New Jersey from solar power developer Community Energy. Constellation will finance and build the system, which will be one of the largest in the state when it is completed this summer, and the electricity generated is to be sold to the Vineland Municipal Electric Utility under a 25-year power purchase agreement.
“Constellation Energy is pleased to include Vineland's solar installation among our renewable energy projects serving customers in New Jersey,” said Michael Smith, senior vice president of green initiatives at Constellation Energy. “This solar installation will help Vineland Municipal Electric Utility to provide stable utility costs for its users over the long term through a renewable energy source. By structuring solar projects as power purchase agreements, we can provide energy solutions that require no upfront capital from customers and provide them with fixed power costs that are less than projected market rates.”
The ground-mounted system will be spread over two sites – 4.8MW West Vineland and 3MW North Vineland – and 40 acres, and generate around 10 million kWh of electricity per annum.
“The Vineland project represents an exciting delivery on Community Energy's solar development strategy. We were able to advance this solar project quickly based on a strong partnership with the City of Vineland, our development team and Constellation Energy. With the strength of Constellation Energy's pre-construction purchase, we are able to deliver a win for all parties in a very competitive market, which is always our goal,” said Brent Alderfer, CEO of Community Energy.