Under the agreement, Macquarie Energy will sign a long-term purchase agreement for power and renewable energy credits from LRE’s New Jersey Oak solar project.
Macquarie Energy will also provide construction finance and term debt to the 10MW solar facility, which will be owned by LRE.
LRE also signed an agreement with The Ryan Co, a subsidiary of Quanta Services, for the construction of the Oak Solar facility in Fairfield Township, Cumberland County.
Quanta Renewable Energy Services and The Ryan Co will provide comprehensive engineering, procurement and construction services.
Construction of the solar PV facility is projected to begin in June, and is expected to be complete later this year.
