NJR Clean Energy Ventures
NJR CLEAN ENERGY VENTURES UNVEILS LATEST SOLAR PROJECT AT ABSECON COMMUNITY SCHOOLS COMPLEX11/05/2013 - For Immediate Release
ABSECON, N.J. – NJR Clean Energy Ventures (NJRCEV), the unregulated clean energy subsidiary of New Jersey Resources, today unveiled its latest solar installation at the Absecon Community Schools. The 859 kilowatt, ground-mounted solar array will provide power to the Emma C. Attales Middle and the H. Ashton Marsh Elementary Schools located at the complex.
“Clean energy, like solar, is a growing and important part of our energy future,” said Stan Kosierowski, President of NJRCEV. “Through innovative projects like our partnership with the Absecon School District, we are helping to make renewable energy, and the savings it provides, an accessible and viable choice for New Jersey’s homes, schools and businesses.”
Completed at the start of the school year, the Absecon solar installation consists of more than 3,000 solar panels which will supply approximately 83 percent of the school’s electricity requirements through a 15-year power purchase agreement. NJRCEV owns, operates and maintains all tax credits and Solar Renewable Energy Certificates (SRECs) the system produces. SRECS are the credits generated by solar systems that can be sold to meet utility providers’ renewable energy requirements. The Absecon Board of Education expects the project to help reduce the district’s energy costs and save taxpayers approximately $1 million over the duration of the agreement.
Together with the Absecon Board of Education and Superintendent of Schools, NJRCEV also announced a new educational partnership to help teach students about solar energy. NJRCEV installed monitors that broadcast a live feed of the solar system’s production and associated environmental benefits to video displays inside the Attales Middle and Marsh Elementary Schools and the district’s web page. Representatives from the company will also take students from third to eighth grade on a tour of the solar array to teach them how panels work and the importance of clean energy.
“From our recycling program to our “Walk to School” days, we are helping to make conservation a priority for our schools and a life lesson for our students,” stated Jim Giaquinto, Superintendent of Schools. “This new solar installation represents the Absecon School District’s ongoing commitment to renewable resources, reducing our carbon footprint and creating a better tomorrow for our children.”
NJRCEV invests in, owns and operates renewable energy projects that generate clean power and provide low-carbon energy solutions. Since 2010, it has completed and put into service in excess of 2,100 solar projects totaling more than 56 megawatts of installed capacity throughout New Jersey.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management. With annual revenues in excess of $2 billion, NJR is comprised of five key businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,000 miles of natural gas transportation and distribution infrastructure to serve approximately half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
- NJR Clean Energy Ventures is a clean energy company that invests in, owns and operates solar and onshore wind projects with a total capacity in excess of 56 megawatts, providing residential and commercial customers with low carbon solutions.
- NJR Energy Services, NJR’s wholesale energy services business, manages a diversified portfolio of natural gas transportation and storage assets and provides customized energy solutions to its customers across North America.
- NJR Midstream invests and maintains an equity ownership in a natural gas storage facility and a transportation pipeline, and serves companies from local distributors and producers to electric generators and wholesale marketers.
- NJR Home Services is a provider of heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to nearly 130,000 residential homes and businesses throughout New Jersey.
NJR and its more than 900 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Follow us on Twitter @NJNaturalGas.
“Like” us at facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad and iPhone.
Michael Kinney, Media
Joanne Fairechio , Investors
Dennis Puma, Investors