Jan 12 2010
An agreement was signed by William Paterson University (WPU), Nautilus Solar Energy, and SunDurance Energy to construct a solar power facility at the university’s campus in Wayne, New Jersey. The solar power project consists of rooftop and parking lot installations with a total capacity of 3.5 MW. When the project is completed, it will be the largest solar facility to be constructed at a university in the United States.
The 3 MW first phase of the project is anticipated to be commissioned during the summer of 2010 and the balance of 500 kW is expected to be commissioned during early 2011. Nautilus Solar CEO, James M. Rice, said that the company is delighted to support the WPU’s initiative for the development of renewable energy by providing low-cost solar electricity.
Under a 15-year power purchase agreement, Nautilus Solar will provide finance for the project. The company will own and operate the facility as per the power purchase agreement. Without any upfront costs, WPU will be purchasing the power produced from the renewable energy source at reduced rates.
SunDurance Energy will be designing and constructing the project. The company, based in New Jersey, is a leading solar system installer. New Jersey Economic Development Authority has provided a loan to Nautilus Solar to part finance the solar system installation.
Stephen Bolyai, WPUNJ's Vice President for Administration and Finance, said that the solar power facility will be an important project for the university. According to Stephen Bolyai, this project will not only reduce the university’s carbon foot print and energy costs but will also provide learning opportunities for the students.
Source: www.nautilussolar.com