Lincoln Renewable Energy Commences Construction of 10 Megawatt Solar Project in N.J. Company also appoints Richard Gruber as SVP of Business Development, strengthening its management team

- New Jersey Oak Solar project to rank among largest in U.S., largest non-utility-owned solar project east of the Mississippi. LRE will be long-term owner of the facility.

- About 100 jobs to be created during six-month construction period.

CHICAGO, Aug. 10, 2011 /PRNewswire/ -- Lincoln Renewable Energy (LRE), a developer of U.S. solar and wind projects, today announced the commencement of construction of its 10-megawatt New Jersey Oak Solar project. Located in Fairfield Township in Cumberland County, it will comprise 55,000 solar panels constructed on a 100-acre site connected to Atlantic City Electric's distribution system.

When completed later this year, the New Jersey Oak Solar project will be the largest non-utility-owned solar project east of the Mississippi, and one of the largest solar facilities in the country.  

In a related announcement, LRE said it is strengthening its management team with the addition of Richard Gruber as senior vice president of Business Development. Gruber brings 30 years of experience in the U.S. electricity market, including executive roles at leading companies in the U.S. solar market such as Schott Solar and First Solar.

In his new role, Gruber will oversee the company's utility relationships and lead the marketing of clean solar power from LRE's nationwide portfolio of advanced development projects. He will be based in the company's newly established office in Austin, Texas.

"We are delighted to begin construction of our Oak Solar project," said LRE CEO Declan Flanagan. "This highly innovative project clearly demonstrates that when the right policies are in place, investment will flow to create much needed energy infrastructure, even in the current difficult economy. The result is not just clean energy, but much needed employment and a major boost to the local tax base."

"I am also delighted to have an executive of the caliber of Richard Gruber join the LRE team," continued Flanagan. "Richard's deep knowledge of the U.S. solar market, particularly California where he has led the development of some of the largest solar projects operating in the state, will be a huge asset to LRE."

"Lincoln Renewable Energy is one of the leading independent developers of solar projects in the U.S.," said Gruber. "I'm thrilled to join a team with the experience to drive project-development and real renewable energy results."

Gruber received a Bachelor of Arts degree in economics from Southern Methodist University and a Master of Business Administration degree from the University of St. Thomas. He is a graduate of Harvard Business School's Advanced Management Program.

Lincoln Renewable Energy is developing solar photovoltaic (PV) projects in multiple East and West Coast markets, managed from their offices in Chicago, Denver, New Jersey and Austin. LRE is actively developing projects in 10 states totaling 750 mega-watts across 30 projects. Since its formation in 2009, LRE has grown to become one of the leading independent developers of solar projects in the U.S. To date, the company has raised more than $65 million in equity and project finance to fund its rapid growth.

About Lincoln Renewable Energy

Lincoln Renewable Energy is in the business of developing solar and wind power projects across the United States from Greenfield concept through to commercial operation. LRE's management team has a proven track record in renewable energy development. Their efforts have led to the construction of more than 3,000 megawatts of renewable energy in North America and Europe over the past 10 years. For more information, please visit www.lincolnrenewableenergy.com.

For Information please
contact:

Joe Poulos
312.240.2719

SOURCE Lincoln Renewable Energy



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