PSEG buys 12-MW Delaware solar project from Juwi Solar
Sep 24, 2012 - PSEG Solar Source, a unit of US energy company Public Service Enterprise Group Inc (NYSE:PEG), or PSEG, today said it had acquired a 12-MW solar project in Delaware from its developer, Juwi Solar Inc, part of German Juwi Holding AG.
The project's direct current (DC) capacity is 15 MW.
PSEG Solar Source has also signed agreements for Juwi Solar to engineer, procure and manage the construction of the solar farm, which is located in Milford. Construction of the USD-50-million (EUR 39m) project is to start this month, with completion expected in the fourth quarter of 2012. Juwi Solar will also operate and maintain the facility. There is a power purchase agreement (PPA) in place with Delaware Municipal Electric Corp for the project's electricity and solar renewable energy credits.
Including the Milford scheme, Juwi Solar would have built five solar facilities for PSEG Solar Source.