NJR Clean Energy Ventures will be leasing over 300,000 square feet of roof space from CertainTeed’s Berlin, New Jersey, facility for the installation of a solar power system. United Solar’s silicon thin-film laminates will be used to generate 870kW of energy. The 20-year lease between NJR and CertainTeed has also resulted in a power purchase agreement for the US$5 million project.
“Through innovative solar projects like our partnership with CertainTeed, we are helping to make renewable energy a viable choice for New Jersey’s commercial and industrial businesses and build up the renewable energy marketplace in our state,” said Laurence M. Downes, chairman and CEO of NJR. “We will continue to look for profitable opportunities in the solar and renewable energy markets that will help customers save money, advance the state’s renewable energy goals and grow the business.”
Investments made by NJRCEV will qualify for a 30% federal investment tax credit, while revenues from the PPA will create additional returns on investments. In addition, the energy produced will meet the requirements for Solar Renewable Energy Certificates. The project has an anticipated operation date for January 2011.