Renewvia Energy advised that it had commissioned its 1.26MW solar system at the Northport Industrial Centre in New Jersey. Working with Public Service Electric and Gas (PSE&G) and two of Renewvia’s partners, , the solar project has brought PSE&G’s Solar Loan program over the US$100 million mark for solar financing in New Jersey.
The grid-connected PV system features 5,304 Suniva solar panels, which are installed across 170,000 square feet of rooftop. The US$9 million project was financed in part by the PSE&G Solar Loan Program with Renewvia Energy owning and operating the solar project. Renewvia will sell the power it produces under PPA’s with the building’s tenants. It is estimated that the system will produce over 1,500MWh of electricity per year.
“Our Solar Loan program was designed to remove the financial barriers to solar construction and help make New Jersey a leader in solar development,” said Al Matos, PSE&G’s vice president of renewable and energy solutions. “The $100 million mark is a great accomplishment for PSE&G and New Jersey. We have helped finance almost 400 projects that have added more than 29MW of solar power in the state, along the way creating jobs, helping the environment and holding down utility costs. We are pleased to have worked with Renewvia Energy and their partners in helping to bring more clean solar power to New Jersey.”