Jun 28 2010
Recently, New Jersey’s Morris County Improvement Authority (MCIA) along with SunDurance Energy, an installation contractor, and Tioga Energy, a provider of solar energy, celebrated the commencement of work on a solar project with 1.57 MW capacity at the William G. Mennen Sports Arena.
This celebration heralded the commencement of the 3.2 MW renewable energy program of the county that comprises 19 domestic plants and is currently being funded by means of a private-public solar development model, known as the “Morris Model”.
This ceremony marks the unveiling of the first among the 14,000 solar panels scheduled to be set up at 19 county government buildings and schools across the county. Once completed, the project is likely to result in energy savings of over $3.8 million. This Mennen Sports Arena solar system will generate 30% of the electrical needs of the facility.
By means of the “Morris Model” financing, the MCIA has issued government bonds that are approved by the state for financing renewable energy projects as well as Tioga Energy, the project developer. Tioga Energy will provide cost-effective clean energy to Morris County as per the power purchase agreement (PPA) spanning 15 years. During this 15-year period, the solar energy systems are likely to produce 51,500 MWh of renewable energy, equivalent to removing over 200 vehicles from the road annually.
Source: http://www.tiogaenergy.com/