NJRCEV will invest $60m to develop and install the ground mount solar array on a 50-acre site which is expected to produce 18 million kWh annually while reducing 12,687 metric tons of carbon equivalent emissions.
US based Advanced Solar Products will install the ballasted racking system with assistance from MVM Advisors.
The energy produced will be eligible for solar renewable energy certificates, which can be sold to load serving entities in New Jersey.
Work is expected to be complete in two phases, with 50% of the capacity expected operational in December 2011 and the remaining 50% in March 2012.
McGraw-Hill will plant approximately 25 acres of trees to surround the solar panels.
The company said the installation is expected to be the largest privately-owned, net-metered solar project and the energy produced is expected to reduce 10% of McGraw-Hill’s annual global carbon emissions.
