NJR Clean Energy Ventures (NJRCEV), a Wall, N.J.-based subsidiary of New Jersey Resources, has announced an agreement with Adler Development of Edison, N.J., to lease space atop four, fully occupied buildings in central New Jersey for rooftop solar systems.
The $17 million project will be capable of generating 3.9 MW of energy. Adler Development will lease over 900,000 square feet of roof space to NJRCEV for a period of 20 years. Tenants of the buildings will be offered a power purchase agreement from NJRCEV that is lower than their current utility rates.
‘This commercial project represents our latest effort to identify real opportunities in the solar market,’ says Laurence M. Downes, chairman and CEO of NJR. ‘By maximizing underutilized space to provide clean, renewable energy in the state, we are effectively leveraging our expertise to help provide savings to our customers as well as meet our state's renewable energy goals, create jobs and grow our company. We will continue to build on this progress and look for new opportunities in the solar and renewable energy markets that will benefit our customers, company and state.’