Dow Jones & Co. plans to build a 4.1MW solar photovoltaic power plant on the 200-acre campus of its corporate offices in South Brunswick, NJ. The design of the installation calls for more than 13,000 solar panels, covering nearly 230,000 square feet of parking space.
The PV system is expected to produce the equivalent of 5 million KWhr of electricity per year, the company said. At peak performance, the arrays will be capable of supplying half the site’s energy needs; on an annual basis, the system is expected to supply nearly 15% of the campus’ requirements.
Howard Hoffman, VP of corporate affairs, told PV-Tech that Dow Jones is in negotiations and “hoping to conclude a contract soon” with a supplier. As for the timing of the project, he added that “it is our expectation that we’ll be ready to go next year.”
Until an agreement is reached with the potential contractors, Hoffman said no further details about the project design, construction timeline, modules chosen, or other balance-of-system details could be disclosed.
Although Dow Jones would not comment on details of the overall financing of the project, the company did say that it intends to finance the PV system in part through local utility PSE&G’s solar loan program.
“Dow Jones’s leadership position with solar energy is a real-world example of how this technology can make sense for the environment,” said Ralph LaRossa, PSE&G president/COO. “PSE&G has committed tens of millions of dollars in financing to help state businesses of all sizes install solar energy systems and take full advantage of this renewable energy source.”
Stephen Daintith, COO of Dow Jones, said that “New Jersey is a leader nationwide in supporting solar-power installation, and we’re grateful for the support of the state as well as PSE&G and the township of South Brunswick for assisting us in sourcing alternative, renewable energy such as solar.”
“What makes this investment attractive is that not only are there meaningful environmental benefits but we also will see significant tax incentives and a substantial reduction in our annual energy costs,” he added.
The investment is part of parent company News Corp.’s global energy initiative and is said to be its largest commitment to onsite renewable power to date.