Monday, September 17, 2012 - Livingston, NJ
Hudson Energy Solar, Smart Energy Capital and RGS Energy Partner with Eastman Companies to Flip the Switch on Solar Power
Livingston, New Jersey, September 17, 2012 - Hudson Energy Solar, Smart Energy Capital and RGS Energy are pleased to announce the completed installation of a 500kW solar PV system at the Eastman Companies' Eisenhower Corporate Campus in Livingston, NJ. To showcase Eastman Companies' commitment to the environment, a 68kW ground mount was installed on a prominent hillside making at least part of the installation highly visible.
Commissioned in July 2012, the project was funded by a power purchase agreement (PPA) through Smart Energy Capital. Design and installation was led by RGS Energy, the commercial and utility division of Real Goods Solar. Hudson Energy Solar, which specializes in providing commercial and residential customers with renewable energy solutions, will own and operate the system.
"The Eastman commitment to solar power will help to significantly lower CO2 emissions over the course of 25 years, which is equivalent to planting over 10,000 trees, and reducing the consumption of 47,813 gallons of gasoline each year," said Abe Grohman, Chief Executive Officer of Hudson Energy Solar.
"As an Energy Star partner and a U.S. green building council member, this solar installation is the latest improvement undertaken by Eastman Companies as part of its ongoing commitment to going green," said Peter E. Schofel, President of Eastman Companies. "Eighty percent of our improvements have been installed following LEED guidelines, and this complex is a LEED candidate."
"By going solar with a commercial PPA, Eastman Companies is able to control its operating costs while investing in its future," explained Jeffrey Schmidt, President of RGS Energy. "This type of financing is making it possible for more organizations to follow the lead of Eastman and reduce their carbon footprint."
According to Rob Krugel, Managing Partner at Smart Energy Capital, a leading solar developer and financier, "this installation showcases the successful collaboration between RGS Energy, Smart Energy Capital and Hudson Solar Energy. By combining Hudson's financing, our development expertise, and RGS Energy's engineering, design and construction under a single umbrella, we were able to deliver a complete solution to the Eastman Companies for this project."
About Hudson Energy Solar
Hudson Energy Solar harnesses the power of the sun to provide innovative, sustainable energy products to residential and commercial customers. With the installation and maintenance of solar photovoltaic systems on home and building rooftops, Hudson Energy Solar brings more affordable, renewable energy directly to the consumer enabling them to reduce their environmental impact as well as their energy costs. With no upfront fees, customers pay only for the power generated by the system, providing significant savings on their electric rates. Hudson Energy Solar Inc. is a subsidiary of Just Energy Group Inc., a publicly traded company (NYSE:JE and TSX:JE) serving close to 2 million customers across North America. Visit hudsonenergysolar.com to learn more.
About RGS Energy
RGS Energy (www.RGSEnergy.com) is the commercial and utility division of Real Goods Solar, Inc. (Nasdaq: RSOL). Since 1978 Real Goods Solar has planned, designed, installed, and serviced solar electric (photovoltaic) systems on a national commercial and residential scale. With more than 83 MW installed or contracted throughout the United States, RGS has earned a position of leadership in the renewable energy industry. From the first public sale of solar panels in 1978 to multi‐megawatt installations, the clean energy aspirations of our clients have been the driving force behind our business. With over three decades of experience, we integrate unmatched industry expertise and engineering skill with innovative financing strategies to guide organizations to profitable energy solutions.
About Smart Energy Capital
Smart Energy Capital, LLC (www.smartenergycapital.com) is a leader in the financing and development of solar energy projects. The principals of Smart Energy have a deep background and successful track record in structuring and arranging innovative financing solutions and developing renewable energy projects. They have managed a portfolio of over 300 megawatts of solar projects and raised in excess of $200 billion of innovative financings.
About Eastman Companies
Eastman Companies is a recognized leader in high quality real‐estate developments with properties throughout New Jersey. Eastman is headquartered in Livingston and boasts a portfolio of more than 1.6 million sq. ft. of office, retail, and industrial space located in Morris, Essex, Bergen, and Burlington Counties.
Executive Vice President, Regulatory and Legal Affairs