AC Power and Citrine Power partner on a 4.3 MW solar land lease in NJ

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Feb 23, 2021, 09:06 ET

NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Following a competitive bid process, Green Township in New Jersey has awarded a solar ground lease to developers AC Power, LLC and Citrine Power, LLC who will jointly develop and finance the solar system. The Township and the developers formalized a lease agreement this month to lease the lot on the former Trinca Airport property, located at 93 Airport Road. The property will be the site of a ground mounted solar system with a nameplate capacity of up to 4.5 MWdc.

1.5 MWdc solar project developed by AC Power and Citrine Power in Hopatcong Township

AC Power and Citrine Power applied for the New Jersey's Community Solar Pilot Program's second year solicitation. Both AC Power and Citrine Power were successful in the first year of the Community Solar Pilot Program with three AC Power projects and one Citrine Power projects selected by NJ BPU out of more than 250 applications. If the solar project on Green Township's former Trinca Airport property is successfully selected into the second year of the Community Solar Program, it is estimated that approximately 1,000 homes will have access to the benefits of the renewable energy produced by the system. More than half of these households will be low-to-moderate income households in Jersey Power & Light (d/b/ First Energy) electric utility territory.

Annika Colston, President of AC Power, said, "Our team is excited to work with the leadership of Green Township to produce clean, renewably generated solar energy at the municipally-owned site of the former Trinca Airport. We look forward to building on our successful partnership with Citrine Power to develop this project."

In the event the project is not awarded a Community Solar Program allocation this year, the development team will pursue other alternatives to bring the project to life such as participating in the to be announced successor program that NJ BPU is in the process of crafting or application to the third year of the Community Solar Program.

Cela Sinay-Bernie, Managing Partner of Citrine Power, commented, "We are looking forward to bringing another solar project to successful fruition in NJ in partnership with AC Power. We applaud the Green Township's leadership in allowing a renewable power system to be their tenant on their property that will help reach the State of New Jersey its renewable portfolio standard goals."

About AC Power, LLC

www.acpowerllc.com

About Citrine Power, LLC

https://www.citrinepower.com

SOURCE AC Power