Keystone Power Holdings, LLC (Keystone) and Penns Grove Sewerage Authority (PGSA) announced the completion of a solar energy project that will significantly reduce the sewer authority's energy costs.
Image: Solar Panels. Photo: Courtesy of Neville Micallef/FreeImages.com
Keystone developed, financed, and owns the system; PGSA buys the power that is generated by Keystone at a discount to current utility rates. The system is installed on land that is on and adjacent to PGSA’s wastewater treatment plant. Annual production is anticipated to be approximately 250,000 kilowatt hours (Kwh) of energy.
“It was a pleasure to work with Penns Grove Sewerage Authority on this challenging project. We were able to find good space to go solar in a built-up area with little available land in a flood plain,” said Anthony Fotopoulos, co-founder of Keystone Power Holdings. “We continue to deepen our experience in developing solar projects on complex sites and look forward to building partnerships for similar projects across the mid-Atlantic and in Illinois, our newest market.”
“Keystone Power Holdings was a great partner in this project,” said Paul Morris, Chairman of Penns Grove Sewerage Authority. “Keystone worked with many complex dynamics, delivering a project that enables us to save money while lessening our impact on the environment. We now enjoy energy savings of over 30% – a solid contribution to the Sewerage Authority and our constituents.”
Keystone is able to monetize tax credits for owning the system and selling power to PGSA. The system is also subsidized by the New Jersey Solar Renewable Energy Credit Program (SREC). SRECs exist in other states, including Illinois, where Keystone is partnering with several other municipalities and sewerage authorities that are planning solar energy projects in 2019.
Source: Company Press Release