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NJR Clean Energy Ventures


10/13/2017 - For Immediate Release

Wall, N.J. – NJR Clean Energy Ventures (NJRCEV), the unregulated renewable energy subsidiary of New Jersey Resources (NYSE: NJR), announced the completion of its 3 megawatt (MW) ground-mount solar project at the Princeton Municipal Landfill. The solar array will provide clean power to the Stony Brook Regional Sewerage Authority (SBRSA) through a 15-year power purchase agreement and reduce carbon emissions by 2991 tons - the equivalent of removing 573 cars from New Jersey’s roadways - each year.

“To meet the growing energy demand requires a comprehensive, all-of-the-above approach,” said Stephen Westhoven, chief operating officer of NJR Clean Energy Ventures. “We are proud to join with Princeton in making solar an important part of New Jersey’s energy future. This project marks the completion of our 32nd commercial solar installation in New Jersey and is made possible through a shared commitment to maximize underutilized space to provide clean energy and advance our state’s renewable energy goals.”

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

Owned, operated and maintained by NJRCEV, the system - consisting of over 8,000 solar panels- will provide the SBRSA with up to 25 percent of the energy needed to power its River Road wastewater treatment facility. The SBRSA provides wastewater treatment services to Princeton, South Brunswick, West Windsor, Hopewell Borough, Hopewell Township and Pennington Borough.

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 MW. Any 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.

Princeton Solar Installation October 2017

L to R: Stephen Westhoven, chief operating officer, NJR Clean Energy Ventures (NJRCEV); State Senator Christopher ‘Kip’ Bateman (R-16), Princeton Mayor Liz Lempert, Princeton Councilman Bernard Miller and John Kantorek, executive director, Stony Brook Regional Sewerage Authority (SBRSA) celebrate the completion of the new 3 megawatt solar installation at the Princeton Municipal Landfill. Owned, operated and maintained by NJRCEV, and the solar array will provide up to 25 percent of the energy needs for the SBRSA’s River Road treatment facility.

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 comprised 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, Sussex and Burlington counties.

NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services 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 300 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:
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Michael Kinney, Media

Dennis Puma, Investor

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