Princeton Township Landfill Solar Project
CLIENT:
Princeton Township (Mercer County, New Jersey)
GOALS AND OBJECTIVES:
To assist Princeton Township with the implementation of a unique solar project located at its closed landfill that utilizes a power purchase agreement (PPA) and a land-lease approach. This included supporting the formation of an innovative partnership in which the Stony Brook Regional Sewerage Authority purchases the solar energy at a reduced rate
PROJECT OVERVIEW:
The project provides Princeton Township (Princeton) and the Stony Brook Regional Sewerage Authority (Stony Brook) with a solar energy project that is environmentally responsible and economically beneficial to both public entities. This project also converted a formerly unusable brownfield property into a revenue-generating asset for Princeton.
The project consists of a 2.7 MW ground mounted solar system on a closed portion of the Princeton-owned landfill. The solar energy is sold under a long-term PPA to Stony Brook at a reduced rate, providing substantial savings to Stony Brook and its customers. In addition, Princeton receives the benefits of land lease payments in exchange for hosting the facility.
Gabel Associates managed a competitive process and performed a comprehensive evaluation of proposals to determine the solar developer that provided the greatest value from economic, financial, and technical perspectives. Based upon that evaluation, Princeton is expected to realize over $455,000 from lease payments while Stony Brook is expected to realize more than $2.4 million in energy savings.