Kendall Sustainable Infrastructure (KSI) has begun operation of four new community solar projects totaling 4.4 MW and serving 686 households in and near Pennsauken and Moorestown, New Jersey. Partners on the projects include the tax equity finance firm Monarch Private Capital, New Jersey-based construction contractor Advanced Solar Products, New Jersey-based developer Independence Solar and climate technology company Arcadia.
The economic benefit of the power is going to local households in or near Pennsauken and Moorestown. More than half of those benefiting from the energy savings are low and moderate income electricity customers. The projects are participating in the Pilot New Jersey Community Solar Program run by the New Jersey Clean Energy Program (NJCEP).
“Our projects create clean energy and important savings to Pennsauken and Moorestown residents. They are a win for everyone involved,” said KSI co-founder Ken Lehman.
Monarch Private Capital provided financing to the projects.
“Tax equity continues to be a vital source of funding for renewable energy facilities, and is particularly indispensable for community solar projects like these. Monarch is pleased to partner with KSI on this meaningful investment that directly benefits the communities of Pennsauken and Moorestown. We look forward to additional collaborations that contribute to not only the affordability of local energy, but also impactful job growth in the technology sector,” said Bryan Didier, partner and managing director of renewable energy at Monarch Private Capital.
All four projects are located on the roofs of warehouses owned by Lyons & Sons, which stores cocoa beans and other cocoa-based products.
Other important partners include Arcadia, which will manage the nearly 700 households that benefit from the projects and local utility PSE&G.
News item from Kendall Sustainable Infrastructure
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