|By PR Newswire||
|December 19, 2013 10:03 AM EST||
NEWARK, N.J., Dec. 19, 2013 /PRNewswire/ -- PSEG Solar Source today announced completion of its 19.3 megawatt (MW) DC (15 MW AC) PSEG Badger 1 Solar Farm located on approximately 172 acres west of Phoenix, Arizona. The solar farm was developed and constructed by juwi solar Inc. (JSI). Arizona Public Service Company (APS), the state's largest and longest serving electric utility will purchase the electricity produced by the facility through a 30-year agreement. Badger 1 Solar will generate enough energy to meet the electricity needs of approximately 3,560 homes.
The solar farm utilizes crystalline panels manufactured by Canadian Solar and a single-axis tracking system manufactured by Array Technologies that allows the panels to track the sun across the sky and increases the amount of electricity generated by each panel. In addition, the project includes inverters manufactured and tested by Phoenix-based Power One. Inverters convert electricity from direct current or DC (which is produced by the solar panels), to alternating current or AC (as it is used in homes and businesses).
"PSEG Solar Source is pleased to add a second Arizona project to our growing solar fleet," said Diana Drysdale, president, PSEG Solar Source. "PSEG Solar Source is actively seeking additional utility-sized solar projects in the U.S., where companies either need to meet renewable energy requirements or want to offer their customers clean, emissions-free solar energy."
"JSI is proud to have successfully completed this project on behalf of PSEG and is looking forward to operating it during the years to come," said Michael Martin, CEO of JSI. "This project is yet another example of utility-scale solar becoming increasingly cost-competitive with other sources of energy and providing a clean, efficient and low-cost option for Arizona's ratepayers."
Under a separate agreement, JSI will also perform operation and maintenance services for the project.
PSEG Solar Source is a subsidiary of PSEG, a diversified energy company based in New Jersey. This is the second Arizona project and the sixth solar project for PSEG Solar Source totaling 88.5 MW DC. JSI developed and constructed each of these projects. PSEG Solar Source currently owns:
- The PSEG Milford Solar Farm, a 15 MW DC solar farm in Milford, Delaware.
- The PSEG Queen Creek Solar Farm, a 25 MW DC solar farm in Queen Creek, Arizona.
- The PSEG Wyandot Solar farm, a 12 MW DC solar farm in Wyandot County, Ohio.
- The PSEG Jacksonville Solar Farm, a 15 MW DC solar farm in Jacksonville, Florida.
- The Mars Solar Garden, a 2.2 MW DC facility located adjacent to the Mars Snackfood's U.S. headquarters in Hackettstown, New Jersey.
PSEG Solar Source is a subsidiary of Public Service Enterprise Group (PSEG) (NYSE:PEG) a publicly-traded diversified energy company with annual revenues of $10 billion. Other subsidiaries include Public Service Electric and Gas Company (PSE&G), a regulated NJ gas and electric utility and PSEG Power, a merchant power generation company. PSEG Solar Source owns or is constructing 88.5 MW of solar power. 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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About juwi solar Inc.:
juwi solar Inc. (JSI) is a privately-held solar energy generation company based in Boulder, Colorado. JSI's primary business is the development, design, construction, operation and maintenance of utility-scale (1 MW and larger) solar energy generation facilities in North America. To date JSI has built large-scale solar projects in Arizona, Delaware, Florida, Nevada, New Jersey, North Carolina, Ohio and Texas, totaling more than 100 MWs of operating capacity. JSI also provides operations, monitoring, and maintenance services customized for each solar facility and to each owner's needs and is currently performing these services for 182 MWs of solar facilities in the United States.
The statements contained in this communication about us 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.
SOURCE Public Service Enterprise Group (PSEG)