First renewable energy project at any Bloomberg facility, the solar power system is spread out on an eight-acre land and can produce up to 58% of energy needs of Bloomberg’s Skillman, N.J. campus.

According to Bloomberg global head of sustainability Curtis Ravenel the development of renewable energy is a core part of the company’s overall commitment to environmental sustainability.

"This significant solar installation contributes to Bloomberg’s environmental and financial goals, and diversifies New Jersey’s energy supply with reliable, clean and affordable power," added Ravenel.

Owned by a subsidiary of Integrys Energy Services, the project is part financed by PSE&G’s Solar Loan Program.

Bloomberg has committed to a long term purchase agreement from the solar power system, which allows the company to hedge against rising power prices without any capital investment.

Using SunPower’s T0 Tracker system that follows the sun’s movement during the day, an additional 25% sunlight is captured.