Altus Power, a prominent provider of clean energy at a commercial scale, has recently purchased an 8.5 MW solar array situated in New Jersey.
The ground-mounted project, generating clean electricity, will be sold to PJM, the local independent system operator.
It will also produce Solar Renewable Energy Credits (SRECs) and expand the company’s New Jersey portfolio to a total of 185.5 MW.
Leading in Renewable Energy
“New Jersey is a national frontrunner in renewable energy, and we’re delighted to expand our presence in the Garden State,” stated Gregg Felton, CEO of Altus Power. “This acquisition encompasses 63 acres of land, providing us with the flexibility to redevelop the site in the future and maximize long-term value.”
Environmental Impact
The project is anticipated to generate approximately 8,776,000 kilowatt-hours (kWh) of electricity over the next 12 months, equivalent to mitigating over 6,100 tons of carbon dioxide emissions per year.
Broad Portfolio and Customer Base
Altus Power’s portfolio spans 25 states and caters to over 450 enterprises dedicated to achieving carbon reduction targets, primarily through the company’s distributed solar arrays. Furthermore, as a trailblazer in Community Solar, Altus Power serves more than 24,000 Community Solar customers nationwide, offering clean energy savings to homeowners and renters across diverse income levels.