Infiniti Energy, a full-service solar power developer and independent power producer, is developing and constructing five solar projects at sites owned by Kaplan Companies. The projects, totaling more than 2 MW, will be completed under three different ownership models, including community solar, solar power purchase agreements and direct ownership.
Camelot at Bayonne Apartments in Bayonne, N.J., was the first of the five projects to be completed in June 2021, with Camelot at Townekake in Sayreville, N.J., completed in December 2021. The other three will be completed and operational by June.
“Working with Kaplan on these solar projects has been good for Infiniti Energy to show the three ownership models we work with all provide strong value to real estate firms,” says Michael Kushner, Infiniti Energy’s CEO. “Kaplan has chosen to get ahead of a market in which owners and renters are demanding more sustainable living spaces. By showing that these solar ownership models not only provide more sustainable living, but they also make sense financially. Energy rates can be locked in and additional revenue can be generated from previously unused roof space.”
The projects include Camelot at Bayonne (156 kW), Camelot at Townelake (201 kW), Gateway at Carteret (180 kW), Merriewold at Highland Park (308 kW) and Kaplan Community Solar (1,189 kW).
“Our number one core value at Kaplan is ‘do the right thing’. Solar is the right thing to do,” states Jason Kaplan, president of Kaplan Companies. “It not only provides clean energy to our communities, but it makes financial sense. And partnering with a trusted company like Infiniti Energy has given us the confidence that it has all been done right. It makes so much sense, we even added solar to our residences.”
New Energy Equity LLC is a financing partner to Infiniti Energy for the portfolio and Kaplan Community Solar is jointly developed with Nexamp.