Seminole Financial Services has signed a construction loan to Clean Focus Corp. to install 2 MW of photovoltaic systems on the Jersey Gardens Mall, a 1.3 million square-foot shopping center near New Jersey's Newark Airport. The total project cost for this transaction is approximately $11.7 million.
The installation is expected to be online by the fall. Clean Focus has entered into a 20-year rooftop lease and a 20-year agreement to sell the power produced to the owner of the Jersey Gardens Mall.
This will be the second project owned and developed by Clean Focus in which Seminole has participated. Clean Focus recently completed a 2.2 MW photovoltaic system in Gainesville, Fla.