CHRISTIANA, Del.--(BUSINESS WIRE)--Conectiv Energy announced today, they intend to enter an agreement with the Vineland Municipal Electric Utility (VMEU) and the Landis Sewerage Authority (LSA) to create a public/private partnership focused on developing a green energy project, in the state of New Jersey.
The initial project is a design-build 4MW Photovoltaic solar power generating facility. The facility will be located in the City of Vineland and will utilize industrially zoned property on 28 acres of LSA property which is currently unused.
VMEU will take all the power from the facility through a long term power purchase agreement. The terms of the power purchase agreement will guarantee a savings over power market costs for the customers of VMEU for all energy produced by the solar facility.
The solar energy facility, one of the largest in New Jersey will be named Vineland Solar One. It is expected to start producing green energy by the end of 2009.
When the facility is producing at its maximum output, it will generate enough solar energy to serve the electricity needs of 400 to 500 averaged sized homes in Vineland.
Conectiv Energy will retain the solar renewable energy credits (SRECs) produced by the project to use for the load they serve in New Jersey as a result of the BGS auction process.
“This project accelerates the reality of a greener future for the residents of the City of Vineland and the customers of Vineland Electric” said Vineland Mayor Robert Romano, “the partnership is a platform to look at similar opportunities in the future.”
“We are pleased to be a part of a forward-looking and fiscally responsible partnership” said M.Q. Riding, Conectiv Energy’s Director of Communications & Public Affairs, “the greening of America needs to start now, with viable projects like this one.”
Thursday, February 05, 2009
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