Escondido, CA.—July 17, 2008—enXco, an EDF Energies Nouvelles Company, has been contracted to develop, construct, own and operate a first phase 900kW solar photovoltaic array in an agreement with Recycling Technology Development LLC, owner of the site operated by its sister company Bayshore Recycling in Keasbey, New Jersey.
Under the agreement, enXco will own and operate the system and supply the project's output to an affiliate of Bayshore Recycling under a Power Purchase Agreement on a net-metering basis. enXco is scheduled to begin construction in August and expects the project will produce energy in December 2008.
The roof mounted fixed tilt solar array will consist of approximately 12,500 First Solar modules deployed from EDF EN's global supply agreement with First Solar. The project will qualify for New Jersey Renewable Energy Certificates which are essential to the economics of the project. Clean Energy Holdings and Infinite Energy will co-develop the project.
Valerie Montecalvo, President of Bayshore Recycling, stated "Bayshore's goal is to lead the state in several areas of renewable energy - solar power should be one of the first, but we should quickly follow with other promising energy technologies that can secure our future in a cost-effective and clean way. We are excited to partner with the enXco team, who we consider to be global leaders in new energy development."
Hanson Wood, Associate Developer of New Business Development for enXco stated "enXco is very excited to help Bayshore Recycling achieve their ambitious solar energy goals and at the same time provide stable, cost effective energy to commercial consumers who are becoming more susceptible to dramatic fluctuations of retail energy rates. We see the Mid-Atlantic, and New Jersey in particular, as a growing center for solar power development."
New Jersey is the second largest solar market in the country. The solar market grew 114% from 2006 to 2007. New Jersey's Renewable Portfolio Standard (RPS) requires that 22.5% of the state's electricity will come from renewable sources by 2021. By 2020, New Jersey solar energy will represent 2.12% of all energy produced in the state - a goal that represents the nation's largest solar commitment relative to population and electricity consumption.
enXco, Inc. (www.enxco.com) an EDF-EN Company (www.edf-energies.nouvelles.com) develops, constructs, operates and manages renewable energy projects throughout the United States. For more than two decades, we have been a leader in wind-energy focusing on large-scale wind projects. Today enXco's portfolio includes solar and biomass technologies, in an effort to help drive our nation's transition to a sustainable energy economy. enXco is a significant owner and developer of renewable energy installations in the United States, and is the largest third-party operations & maintenance provider for wind farms in North America.
Bayshore Recycling (www.bayshorerecycling.com) engages in recycling, materials recovery, soil remediation, bio-mass feedstock processing, bio-energy and bio-fuel production. Bayshore and its partners also commercialize, co-develop and invest in emerging renewable energy technologies. Bayshore is one of the largest processors of construction and demolition debris in the country, and has a wide range of permits to accept major volumes of numerous other materials and feedstocks. Bayshore has the capability to receive materials by barge, rail, and truck to its primary 50+ acre site on the Raritan River in Keasbey, NJ and is in the process of acquiring several other strategic sites in the New York area and surrounding regions.