PSEG Solar Source, a subsidiary of Public Service Enterprise Group
(PSEG) (NYSE: PEG), completed the acquisition from Juwi Solar Inc., of
two utility-scale solar projects to be located in Florida and Ohio and
announced that it has developed a third solar project located in New
Jersey. The projects have a total capacity of close to 30 megawatts
(MW) and are scheduled for completion by the end of 2010.
Financial terms of the deal were not disclosed.
Juwi Solar will provide the engineering, procurement,
construction, and initial operation and maintenance services for the
projects, which will be owned by PSEG Solar Source.
The Mars Solar Garden will be a 2.2-MW DC (direct current)
facility located on 18 acres adjacent to Mars Snackfood’s U.S.
headquarters in Western New Jersey. Mars Snackfood has contracted for
the output of the system.
The 15-MW DC solar farm on 100 acres in Jacksonville, Florida is
expected to begin construction shortly and targeted to begin commercial
operation in the summer of 2010. JEA, a Jacksonville municipal utility,
has contracted for the output of the system and the renewable energy
credits.
The 12-MW DC solar farm on 80 acres in Wyandot, Ohio, also is
targeted to begin construction by the end of the year and to begin
commercial operation in 2010. AEP Ohio has contracted for the output of
the system and the renewable energy credits.
All three projects utilize thin film panels provided by First Solar
(Nasdaq: FSLR) and will be ground-mounted. The projects together will
include 380,000 solar panels and represent approximately a $100 million
investment by PSEG Solar Source.
PSEG has been active in promoting renewable energy. PSEG Global
is developing a 350-MW wind farm off the coast of New Jersey and is
developing compressed air energy storage through its partnership in
Energy Storage & Power (ES&P).
In addition, PSEG’s regulated gas and electric utility in New Jersey, PSE&G, has launched two solar initiatives a $105 million solar loan program and an 80-MW Solar4All program that involves attaching solar panels to 200,000 utility poles.
Juwi solar Inc. (JSI) is a privately-held solar energy
generation company with North American headquarters in Boulder,
Colorado. JSI’s primary business is the development, design,
construction, operation and maintenance of utility-scale (1-MW and
larger) solar energy generation facilities in North America.
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