Vanguard Energy Partners, a designer and integrator of large-scale solar electric systems, says it has been awarded a contract by the Somerset County Improvement Authority in New Jersey to build 7.6 MW of solar power systems at 31 local and county government locations throughout Somerset County, N.J.
Under the terms of the projects' power purchase agreement, there will be no capital outlay for any of the participating local governments. Vanguard will build, own, operate and maintain the solar systems for 15 years, selling the renewable electricity to the county at predictable, discounted rates, Vanguard explains. Citi, acting through its Municipal Securities Division, will be an equity investor in the project.
In addition, the projects will include an educational component that will track solar performance through a real-time, Web-based monitoring system provided by Branchburg, N.J.-based Noveda Technologies.
SOURCE: Vanguard Energy Partners