Construction on the power project began last month and the plant is scheduled to go online in September 2011.

The solar facility, which is being financed by Syncarpha Capital, will utilize Siemens technology and is expected to help satisfy New Jersey’s demand for renewable power.

Siemens said solar power is part of its environmental portfolio and revenue from the portfolio totaled about $35bn in fiscal 2010.

Syncarpha Capital is a US-based investment company launched to capitalize on opportunities in the alternative energy sector.