NEWARK, N.J., July 2, 2014 /PRNewswire/ -- PSEG Solar Source announced today that it will acquire a 13 megawatt (MWdc) solar energy facility near El Paso, TX from juwi solar (JSI). The project was originally developed by JSI and has a 30-year power purchase agreement (PPA) with El Paso Electric Company.
The plant, to be called the PSEG El Paso Solar Energy Center is located 14 miles north of El Paso, adjacent to the existing El Paso Electric Newman Generating Station. The $22 million acquisition will increase PSEG's Solar Source's portfolio capacity to 106 MWdc.
"We are actively evaluating solar projects throughout North America and are pleased to be making our first solar investment in Texas," said Diana Drysdale, president of PSEG Solar Source. "In addition to continuing our expansion into more states, this project will increase our solar capacity to more than 100 megawatts, which is a great milestone as we build our business."
JSI is the engineering, procurement and construction contractor for the project and will operate the project for PSEG Solar Source upon completion. Construction has already commenced and is expected to be completed by year's end. The project will use JA solar panels.
"We are pleased to be back in Texas and building another solar project," said Mike Martin, JSI's President and CEO. "This project makes sense economically and environmentally, and we are encouraged that well-established companies like PSEG Solar Source and El Paso Electric continue to dedicate significant resources and efforts to the renewable energy industry."
This is the 8th solar project in seven states for PSEG Solar Source. PSEG Solar Source also owns solar projects in California, Arizona, Delaware, Ohio, Florida and New Jersey.
PSEG Solar Source is a subsidiary of PSEG Power, a merchant power generation company which is part of the Public Service Enterprise Group (PSEG) family of companies. PSEG (NYSE: PEG) is a publicly-traded diversified energy company with annual revenues of $10 billion. Its other main subsidiaries are Public Service Electric and Gas Company (PSE&G), a regulated NJ gas and electric utility and PSEG Long Island.
Disclaimer: PSEG Solar Source LLC is not the same company as PSE&G, the New Jersey based electric and gas utility. PSEG Solar Source is not regulated by the New Jersey Board of Public Utilities. You do not have to purchase any PSEG Solar Source products in order to receive quality regulated services from PSE&G.
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About juwi solar Inc.:
juwi solar Inc. (JSI) is a privately-held solar energy generation company based in Boulder, Colorado. JSI's primary business is the development, design, construction, operation and maintenance of utility-scale (1 MW and larger) solar energy generation facilities in North America. To date JSI has built large-scale solar projects in Arizona, Delaware, Florida, Nevada, New Jersey, North Carolina, Ohio and Texas, totaling more than 100 MWs of operating capacity. JSI also provides operations, monitoring, and maintenance services customized for each solar facility and to each owner's needs and is currently performing these services for 182 MWs of solar facilities in the United States.
For more information, please visit: Public Service Enterprise Group (PSEG)