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NJR Clean Energy Ventures

NJR CLEAN ENERGY VENTURES AND PRINCETON ANNOUNCE CONSTRUCTION ON A NEW 3 MEGAWATT SOLAR PROJECT

06/19/2017 - For Immediate Release

Wall, N.J. – NJR Clean Energy Ventures (NJRCEV), the unregulated renewable energy subsidiary of New Jersey Resources (NYSE: NJR), joined with the Princeton mayor and council to announce the construction of a new, 3 megawatt (MW) ground-mount solar project. The solar array is being built on the Princeton Municipal Landfill, and will provide power to the Stony Brook Regional Sewerage Authority (SBRSA) through a 15-year power purchase agreement. The project was originally proposed by the governing bodies of the former Princeton Borough and Princeton Township prior to the merger of the two communities in 2013.

“We are proud to join with Princeton in making solar an important part of New Jersey’s energy future,” said Stephen Westhoven, chief operating officer of NJR Clean Energy Ventures. “This project is made possible through a shared commitment to maximize underutilized space to provide clean energy and advance our state’s renewable energy goals.”

Mayor Liz Lempert said, “It’s exciting to announce the start of this renewable energy project in Princeton. Providing clean energy is a goal of the Princeton community and utilizing the closed and capped landfill is a sustainable use for our land.”

NJRCEV will own, operate and maintain the system consisting of over 8,000 solar panels. The project is expected to be in-service by the end of summer 2017 and will provide the SBRSA with up to 25 percent of the energy needed to power its River Road wastewater treatment facility. The project will generate enough clean energy to power 317 homes annually with an estimated carbon reduction of 2,991 tons, or the equivalent of removing 573 cars from New Jersey’s roadways.

The SBRSA provides wastewater treatment services to Princeton, South Brunswick, West Windsor, Hopewell Borough, Hopewell Township and Pennington Borough. SBRSA Commission Chairman Robert Bartolini said, “Stony Brook’s mission is to treat wastewater and its byproducts in an environmentally and fiscally responsible manner. Using solar energy helps further these goals.”

With the completion of the Princeton solar array, NJRCEV’s total investment in solar and onshore wind projects will exceed $800 million, with a capacity of 310 megawatts. Any tax credits and Solar Renewable Energy Certificates (SRECs) produced by the solar array are owned by NJRCEV. SRECs are the credits generated by solar systems that can be sold to meet utility providers’ renewable energy requirements.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,300 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 280 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,000 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:
Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad, iPhone and Android.


Contact:

Michael  Kinney , Media
732-938-1031

Joanne Fairechio, Investors
732-378-4967

Dennis Puma, Investors
732-938-1229

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