Lincoln Renewable Energy and Macquarie close US$41 million deal on 10MW Oak Solar project

Facebook
Twitter
LinkedIn
Reddit
Email

Lincoln Renewable Energy (LRE) has finalized the sale and project finance deal with Macquarie Energy worth US$41 million. The agreement sees Macquarie Energy enter a long-term purchase agreement for power and renewable energy credits from LRE’s New Jersey-based 10MW Oak Solar PV project. LRE will remain the long-term owner of the facility, while Macquarie Energy provides construction finance and term debt for Oak Solar.

The 10MW project should begin construction in June and reach completion by December. LRE and the Ryan Company, a subsidiary of Quanta Services, have signed an agreement to provide engineering, procurement and construction services for the project with Quanta managing the operation and maintenance of Oak Solar upon completion.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

LRE CEO Declan Flanagan commented, “This highly innovative project clearly demonstrates that when the right policies are in place, even in the current difficult economy, investment will flow to create much-needed energy infrastructure. The result is not just clean energy, but employment and a major boost to the local tax base.”

“LRE has moved the Oak Solar project from site identification through permitting, financing and into construction in under 18 months. This rapid deployment needs to be replicated across the United States and the formula is simple: With the right policies at state and federal levels, companies such as LRE will do the rest,” concluded Flanagan.

The New Jersey solar project is set to be built in Fairfield Township and utilize over 55,000 solar panels across the 100-acre site. The project will connect to Atlantic City Electric’s distribution system and, as LRE states, upon completion will be the largest non-utility owned solar project east of the Mississippi.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK