Former New York governor David Paterson may not like New Jersey very much, but there's a lot to like when it comes to cleantech investment.
Startup Solar Rainbow and Carlisle Energy Services have announced a joint venture to install 400,000 square feet of thin-film solar panels on the rooftop of a South Plainfield distribution center for conglomerate Jordache Enterprises, the folks best known for their eponymous apparel line.
(Doesn't ring a bell? Allow model Heidi Klum, top right, to jog your memory.)
Supplying the laminates is United Solar, making this installation one of its largest in the Northeast.
The first phase will be for 1.3 megawatts of capacity, with an additional megawatt following in a second phase. That's about 1,430 megawatt-hours per year, or enough energy to power about 250 homes.
The project is arranged around a Power Purchasing Agreement, or PPA, in which the installers shoulder initial capital investments with the guarantee to share future revenues from power generated once the system is online.
PPAs are becoming an increasingly popular option for many commercial clients who don't want to deal with the financial risk of a solar projet.
The project is set for completion this summer: United Solar will produce the panels, Solar Rainbow will install and operate them and Carlisle Energy will run the show. (Helping things move along: Solar Rainbow's recent acquisition of a roofing company. Three cheers for vertical integration!)
For Jordache, the installation aligns with its corporate sustainability goals and those of its customers, including Walmart.
This post was originally published on Smartplanet.com