Retail Supplier JV Selected By Clean Energy Investment Firm To Manage Subscriptions For New Jersey Community Solar Project
March 18, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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CPP Genie Community Solar, LLC (CPP Genie), a joint venture of Community Power Partners, a community solar customer acquisition firm, and Genie Energy, Ltd., an independent retail energy supplier and provider of renewable energy solutions, announced that it has signed agreements with Sunwealth, a clean energy investment firm, to subscribe and manage the participation of electricity customers for a community solar project administered under New Jersey’s Clean Energy Program.
The agreement marks an expansion for CPP Genie into New Jersey from its home market of New York
Pursuant to its agreement with Sunwealth, CPPGenie will acquire and manage billing reconciliation for residential subscribers for a community solar project located on the grounds of the Blue Army Shrine in Franklin Township, New Jersey. The project was developed by Citrine Power, installed by Pfister Energy, and is owned and operated by Sunwealth.
The project covered under the CCPGenie – Sunwealth agreement has an aggregate solar generating capacity of .68 megawatts.
Pursuant to a New Jersey BPU program, subscriptions will exclusively be offered to low-to-moderate income households
Subscribers will receive credits from their local electricity supplier, Jersey Central Power & Light (JCPL), for power generated by the community solar project. The credits will be based on the project’s solar energy generation, which subscribers can purchase at a 20% discount.
The companies said that the New Jersey Board of Public Utilities has approved 164 MW of new community solar projects in the second year of the program, all of which are slated to serve low-to-moderate income households.
Community Power Partners is an affiliate of Matrix Solar Development, a community solar developer.