PSEG Completes Construction of Waldorf Solar Energy Center

NEWARK, N.J., Oct. 14, 2015 /PRNewswire/ -- PSEG Solar Source today announced that it has finished the construction of the PSEG Waldorf Solar Energy Center. The facility is located 22 miles southeast of Washington, DC and has a capacity of 13.1 MW-dc. The project was originally developed by juwi Inc. and has a 20-year power purchase agreement with Southern Maryland Electric Cooperative (SMECO).

The completion of this project increases the capacity of PSEG Solar Source's portfolio to 148 MW-dc. 

"With the completion of the PSEG Waldorf Solar Center, our portfolio now has 11 plants in nine states, each providing customers with safe, clean and reliable energy," said Diana Drysdale, president of PSEG Solar Source.  "It was great to partner with SMECO on a project that will help the electric cooperative achieve its sustainability goals."

According to Austin J. Slater, Jr., SMECO's president and CEO, "By developing a project that provides sustainable energy right here in our service area, PSEG Solar Source is helping us to meet our renewables target for solar production." He added, "Our customer members will be pleased to know that the cost of the energy provided by this solar project is competitive with alternatives we considered." 

The 80-acre PSEG Waldorf Solar Center uses approximately 42,000, 310-watt photovoltaic solar panels to generate enough solar energy to power more than 3,800 homes. Its pollution-free energy displaces approximately 26,000 metric tons of greenhouse gas emissions annually – the equivalent of removing approximately 3,300 cars from the road.

juwi is the engineering, procurement and construction contractor for the project and will operate the project for PSEG Solar Source.

"Our partnership with PSEG Solar Source has been tremendously successful over the years and we are proud that companies like PSEG continue to dedicate significant resources and efforts to the renewable energy industry," said Mike Martin, juwi's president and CEO. "The PSEG Waldorf Solar Center is another great example of this and will provide renewable, emission-free energy for SMECO customers for years to come."

PSEG Solar Source's other operating facilities are:

• PSEG Queen Creek Solar Farm, a 25.2-MW solar farm in Queen Creek, Arizona.
• PSEG Badger 1 Solar Farm, a 19.3-MW solar facility located west of Phoenix, Arizona.
• PSEG Jacksonville Solar Farm, a 15-MW solar facility in Jacksonville, Florida.
• PSEG Milford Solar Farm, a 15-MW solar farm in Milford, Delaware.
• PSEG El Paso Solar Energy Center, a 13-MW solar farm in El Paso, Texas.
• PSEG Wyandot Solar Farm, a 12-MW solar farm in Wyandot County, Ohio.
• PSEG Shasta Solar Farm, two adjacent solar facilities totaling 4.4 MW located in Shasta County, California.
• PSEG Essex Solar Center, a 3.6-MW solar farm near Burlington, Vermont.
• PSEG Mars Solar Garden, a 2.2-MW facility located adjacent to the Mars Snackfood's U.S. headquarters in Hackettstown, New Jersey.

About PSEG:
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 approximately $11 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. 

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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Forward-Looking Statement
The statements contained in this communication about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Although we believe that our expectations are based on information currently available and on reasonable assumptions, we can give no assurance they will be achieved. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. A discussion of some of these risks and uncertainties is contained in our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission (SEC), and available on our website: http://www.pseg.com. These documents address in further detail our business, industry issues and other factors that could cause actual results to differ materially from those indicated in this communication. In addition, any forward-looking statements included herein represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our internal estimates change, unless otherwise required by applicable securities laws.

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SOURCE PSEG Solar Source

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