Oct 26 2010
Con Edison Development, a fully owned auxiliary company of Consolidated Edison, and Panda Power Funds have performed the groundbreaking function of a 20 MW solar farm located in Pilesgrove, NJ. Earlier during April, both the companies had signed an equal funded partnership accord to build and manage utility level solar projects.
While Panda Power Funds took the task of administering project linked developments, building and engineering, Con Edison accepted the basic duty of supervising its operations, up keep, funding the operations, and selling the renewable power produced by each such solar facility.
The Pilesgrove solar farm situated about 30 miles southeast of Philadelphia in Salem County, New Jersey, will incorporate 71,400 stationary model solar panels to absorb over 95% sunlight to create electricity. The solar farm is expected to commence its commercial production from next spring and will generate 20 MW DC or 18 MW AC power to provide clean power to nearly 5,100 houses. The power produced from the farm will be purchased by the utility company Atlantic City Electric. The solar incentive program of New Jersey has played an important role in the development of the solar farm. The power generated from the farm can be equated to the removal of 3,500 cars from the road each year.
Robert Mennella, Con Edison Development’s COO and Senior Vice President, praised the State of New Jersey for its pledge to renewable energy and making more solar installations possible and expressed happiness about the association of his company with Panda Power Funds in the renewable energy projects that can bring in long term eco- benefits.
According to Todd Carter, Panda Power Funds company’s President and Managing Director, the initiative of the government to associate with the private sector will improve the green energy economy of the state. He praised the legislators of the state for the offered easy incentive program without the normal hassles.
Source: http://www.conedison.com/