29 Apr '11, 6pm

Lincoln Moves Ahead on 10MW Solar Project in New Jersey

Lincoln Renewable Energy, a utility-scale developer of U.S. solar and wind projects, has closed financing for its New Jersey Oak Solar project. The 10 MW solar photovoltaic (PV) will be the largest non-utility owned plant east of the Mississippi, and will supply electricity for 2000 homes. 55,000 solar panels will be on a 100-acre non-agricultural site in Fairfield Township, Cumberland County, connected to Atlantic City Electric's distribution system. The financing is with Macquarie Energy LLC, which will also enter into a $41 million power purchase agreement for the energy and renewable energy credits from the project. The Ryan Company, a subsidiary of Quanta Services (NYSE: PWR) will build the facility, and Quanta Renewable Energy will operate and maintain it. Construction begins in June and should be completed in December. "This demonstrates that when the right policies...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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