SunDurance, Key Equipment Finance, KeyCorp developing solar project for Rutgers University

March 5, 2012
Facebook
Twitter
LinkedIn
Reddit
Email

Construction of a new solar project on New Jersey’s Rutgers University is underway with financing being provided by Key Equipment Finance and KeyCorp. SunDurance Energy is the solar integrator for the project, which will use over 40,000 high-efficiency panels mounted on canopy structures over two large surface parking areas on the Livingston Campus.

The 32-acres of solar canopies are expected to produce more than 9 million kWh of power with the first phase of the installation completed this summer. Rutgers is leasing the solar installation from Key Equipment and will benefit from federal tax incentives and New Jersey’s SRECs. The project’s electricity savings and incentives are anticipated to produce US$28 million in compensation over a 20-year period for the university.

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

“This project makes good sense economically and environmentally,” said Antonio Calcado, Rutgers' vice president for facilities and capital planning. “This is an exciting and innovative project that demonstrates Rutgers' ongoing commitment to energy efficiency and environmentally sound practices.”

Key Equipment Finance will oversee the financing for the construction of the project and the leasing of the installation to the university once construction is completed. At the end of the 15-year lease term, Rutgers will purchase the facility at fair market value.

Read Next

October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 15, 2025
A report by IRENA and others has highlighted the need for yearly renewable energy deployments to almost double between now and 2030.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).

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