US based investment company Syncarpha Capital will finance the solar power plant, which will be built using Siemens technology.

Construction has begun in May 2011 and the plant is scheduled to go online in September 2011.

The new facility is expected to meet the New Jersey’s demand for renewable power.

Siemens Energy Director PV Thomas Mart said that the company will work in concert with Syncarpha Capital to install the solar generating plant in New Jersey.

"This order plays an important role in the continued development of our photovoltaic business." stated Mart.