Earlier the company had requested to increase its investment by up to $883m on renewable energy under its Solar Loan and Solar 4 All investment programs.
Under the Solar Loan III program, PSE&G plans to spend $199m on 97.5MW, and about $247m to build solar farms with 42MW capacity atop landfills and brownfields. The firm is likely to invest more on smaller pilot programs with 3MW capacity as part of the Solar 4 All extension program.
The investments put together will represent 50% of PSE&G’s original request. The investment will be spread out over a period of three years, as against the initial five years requested.
New Jersey Board of Public Utilities will take a decision by the end of May.
