Work Begins on Floating Solar Array in New Jersey
Work began this week on one of the largest floating solar arrays in the nation, in the Borough of Sayreville, New Jersey. Along with the project development team, two local educational partners will also participate, providing valuable services to their special needs clients.
Partner firms that will execute the project’s design and implementation include:
· Project developer: Power Grid Capital, LLC based in Congers, New York
· Project financing: Monticello Energy Finance, LLC based in New York City
· Engineer and Designer: RETTEW, based in Lancaster, Pa.
The $12 million project will result in the production of more than 4 million kilowatt-hours of renewable energy annually for the Bordentown Avenue Water Treatment Plant. Following the design completion, construction is expected to begin in mid-2016 and be completed before the end of the year.
The purpose of the project is to produce all of the energy needed to operate the water treatment plant on an annual basis, significantly reducing energy costs and creating a “net zero” facility that does not rely on public utilities. As the solar array becomes operational, the treatment plant’s greenhouse gas emissions and carbon footprint will be greatly reduced, equivalent to the energy used by more than 375 homes in a year.
“We specifically look for renewable energy projects like this,” said Power Grid owner Alan Litt. “It benefits the community far into the future, and also adds significant training resources for community members.”
While the solar array will advance the use of renewable energy in the region and lessen the impact on the environment, this project has a further positive effect within the community. Middlesex Regional Educational Service Commission and Middlesex County Vocational and Technical Schools will work with project managers to engage their students in learning important technical skills, gaining both training and financial opportunity.
“We’re not just corporations completing a technical job,” said Jason Wert, senior technical engineer with RETTEW. “We’re in this to help local communities with energy sustainability and make a difference in the lives of families, whether that’s through more efficient energy use or training that will benefit their children years into the future.”
Power Grid Capital, LLC is a project developer specializing in the construction of renewable energy projects, including solar arrays and the conversion of biogas from wastewater treatment facilities to vehicle fuel. The company’s principals began their work more than four decades ago in New York, and have a long history of managing the details of project development and construction.
Monticello Energy Finance, LLC is a specialty-financing firm whose members have a long history of investing in and managing impact lending projects in the renewable energy market. The company actively seeks project opportunities with RETTEW, such as solar arrays and biogas-to-vehicle fuel. Its mission is to be a leader on the road to renewing and repairing the earth through impact lending. For more information, contact Alan Litt at (646) 844-3601 or visit www.monticello.nyc.