KDC Solar announced that it has begun construction on a 23.5-MW solar photovoltaic system in Jackson, New Jersey. This system will supply Six Flags Great Adventure with clean renewable energy and virtually all its electrical load at the park. When completed, the project will be the largest net metered solar installation in the State of New Jersey.
The solar facility will produce approximately 30 million kilowatt hours of clean electricity in the first year. Additionally, the environmental benefits of the project will be equivalent to providing power for 2,787 homes for a year or removing approximately 108,000 cars from the road.
Alan Epstein, president and CEO of KDC Solar said “we are very pleased and proud to have been selected by Six Flags Great Adventure for this groundbreaking solar project. We also want to recognize and thank our partners, GoldenSet Capital Partners and Seminole Financial Services, for providing the necessary capital to build this project.”
Debt financing for the project was provided by Seminole Financial Services through a construction and a permanent loan facility. Development capital and project equity was arranged by GoldenSet Capital Partners in its role as sub-advisor to the North Sky Capital Alliance Fund II.
“As a company built on a relationship-first philosophy, we’re grateful for the opportunity to work alongside such highly respected organizations as KDC Solar and GoldenSet Capital,” said Bob Banks, CEO of Seminole Financial Services. “We’re honored to have provided the financing for this monumental project.”
“The KDC team has an extensive history of successfully developing significant energy projects and represents an ideal partner for GoldenSet Capital and Alliance Fund II” said Everett Smith, managing partner of GoldenSet Capital. “We look forward to the continued expansion of our portfolio with KDC” added Rob Pryor, principal, GoldenSet Capital.
News item from KDC SOLAR