Distributed Sun (D-Sun) has entered into a power purchase agreement (PPA) with the Sheraton Meadowlands Hotel & Conference Center in New Jersey. The 1.1MW PPA will see D-Sun build and operate a solar powered carport under a partnership with the Buccini/Pollin Group and Pollin/Miller Hospitality Strategies, the owners and property managers, respectively, for the site. D-Sun’s Solar Energy Investment Company (SEIC), sunTWO, will own the system, which will produce 1.2GWh of electricity per year and over 40GWh in its lifetime.
“We are very excited to expand our partnership with The Buccini/Pollin Group,” says Jeff Weiss, managing director of Distributed Sun's SEICs. “This project marks another milestone in the relationship, demonstrates the company's long-term view with – and commitment to – our trusted real-estate partners, and further proves the unique benefits of our replicable and scalable business model.”
D-Sun agreed to a capital investment to refurbish the hotel parking lot and in return, the PPA rate schedule has adjusted the price per kWh paid on-site until the added expenses are recuperated for sunTWO.