NJRCEV will lease the land from Manalapan Solar, an affiliate of Spano Partners Holdings (SPH), for a period of 21 years to construct a solar facility worth $18m.
Upon completion, the 3.6MW project will be capable of generating electricity sufficient to power 450 homes annually and the power from the plant will be used to serve the wholesale electric market.
New Jersey Resources chairman and CEO Laurence Downes reportedly stated that the investment of a solar system at the Village at Manalapan site is an investment in New Jersey’s economic development, environment and energy future.
Construction of the solar facility at the Manalapan Village is expected to be completed by this year.
