NEWARK, N.J., March 21, 2016 /PRNewswire/ -- PSEG Solar Source today announced it has acquired a 37.8 MW-dc solar energy facility from juwi Inc. (juwi). The facility, to be called the PSEG San Isabel Solar Energy Center, is located in Las Animas County, Colorado about 165 miles south of Denver. This latest addition represents an investment of over $60 million and will increase the capacity of PSEG Solar Source's portfolio to 315 MW-dc.
The PSEG San Isabel Solar Energy Center has a 25-year power purchase agreement with Tri-State Generation and Transmission Association, Inc., a wholesale electricity generation and transmission provider. It sits on approximately 300 acres and has a 25-year lease with a private landowner.
"Over the last few months, we have substantially increased our portfolio of cost-effective, community based solar solutions and brought the benefits of renewable energy to communities across the country," said Diana Drysdale, president of PSEG Solar Source. "With the PSEG San Isabel Solar Energy Center, we are expanding our presence in Colorado and will deliver enough clean, reliable energy to power over 9,600 local homes."
juwi developed the project and will act as its the engineering, procurement and construction contractor and operator. The facility will use approximately 121,000 poly-crystalline panels with tier one inverters. Construction is underway and commercial operations are expected to begin by the end of the year.
"We are proud to have developed another utility-scale solar project in our home state of Colorado that will provide affordable and clean energy for Tri-State and its members," said Michael Martin, president of juwi. "The PSEG San Isabel Solar Energy Center is the latest example of a tremendously successful partnership between juwi and Solar Source, helping to bring a more sustainable future for all."
This is PSEG Solar Source's 17th utility-scale project in 12 states and the second in Colorado. Its other projects are located in Arizona, California, Delaware, Florida, Maryland, New Jersey, North Carolina, Ohio, Texas, Utah and Vermont.
PSEG Solar Source is a subsidiary of PSEG Power, a merchant power generation company which is part of the Public Service Enterprise Group (PSEG) family of companies. PSEG (NYSE: PEG) is a publicly-traded diversified energy company with annual revenues of $10.4 billion. Its other main subsidiaries are Public Service Electric and Gas Company (PSE&G), a regulated NJ gas and electric utility and PSEG Long Island, which operates the transmission and distribution assets of the Long Island Power Authority (LIPA).
Disclaimer: PSEG Solar Source LLC is not the same company as PSE&G, the New Jersey based electric and gas utility. PSEG Solar Source is not regulated by the New Jersey Board of Public Utilities. You do not have to purchase any PSEG Solar Source products in order to receive quality regulated services from PSE&G.
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SOURCE PSEG Solar Source