PSEG Solar Source Acquires Long Island Project from Solar Liberty
prnewswire.com
PSEG Solar Source
September 28, 2017
NEWARK, N.J., Sept. 28, 2017 /PRNewswire/ — PSEG Solar Source today announced it has acquired a 10.6 MWs-dc facility located in West Babylon, Long Island, from Solar Liberty Energy Systems Inc., representing an investment of $20 million to $25 million. The PSEG West Babylon Solar Center has completed construction and is expected to begin commercial operation in October.
The facility includes almost 35,000 solar panels installed on a fixed tilt racking system. The project has 20-year power purchase agreements (PPAs) with the Long Island Power Authority (LIPA). Solar Liberty of New York developed and constructed the project and will operate the facility for PSEG Solar Source.
“We want to thank the local officials and community leaders in West Babylon who have helped every step of the way toward making this project a success,” said Adam K. Rizzo, president of Solar Liberty. “New York has made a commitment to increasing clean energy and we are proud that this facility will play a part in fulfilling that commitment here on Long Island.”
PSEG Solar Source’s portfolio now includes 22 utility-scale solar facilities in 14 states. The company currently has 19 facilities with a total capacity of 349 MWs in operation with three projects totaling 58 MWs under construction.
About PSEG Solar Source:
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 $9.1 billion. Its other main subsidiaries are Public Service Electric and Gas Company (PSE&G), a regulated New Jersey gas and electric utility, and PSEG Long Island, which operates the transmission and distribution assets of the Long Island Power Authority (LIPA).
About Solar Liberty:
Solar Liberty, headquartered in Buffalo, N.Y., was founded in 2003 and is committed to promoting energy independence through the widespread installation of solar electric systems with a focus on engineering for system optimization. Both NYSERDA and the Department of Energy awarded Solar Liberty with the ‘Outstanding Achievement Award’ for being the largest solar electric installer in New York State. Solar Liberty donates funds and solar equipment to the Solar Liberty Foundation (www.solarliberty.org) whose mission is to provide renewable energy resources to people in rural areas of less-developed nations.
