MMA Renewable Ventures LLC, a subsidiary of Municipal Mortgage & Equity LLC, and Dome-Tech Solar (DT Solar), a large-scale solar energy developer based in Branchburg, N.J., has completed the installation of a 600 kW solar energy system for the Estee Lauder Co. Inc.
The new photovoltaic (PV) system generates energy for Estee Lauder's manufacturing operation in Oakland, N.J. Designed and installed by DT Solar and owned by an investment partnership created by MMA Renewable Ventures, the new system incorporates more than 3,000 solar panels. Expected to generate over 650,000 kWh per year, it will offset more than 10,000 tons of carbon dioxide over its expected 25-year lifetime, the companies say.
‘Through this new solar energy system, Estee Lauder is taking action to combat climate change and environmental degradation while reducing its own exposure to volatile energy prices,’ says Ted Turner, DT Solar's owner. ‘The company is further blazing trails by enacting its clean energy commitment via a PPA [power purchase agreement], an innovative, third-party ownership model that is capable of shifting solar energy from a relatively niche market to routine corporate practice.’
