Solar power developer and independent power producer Infiniti Energy is developing and constructing five solar projects at sites owned by Kaplan Companies in New Jersey, utilizing three different ownership models: community solar, solar power purchase agreements (PPA), and direct ownership.
“Working with Kaplan on these solar projects has been good for Infiniti Energy to show the three ownership models we work with all provide strong value to real estate firms. Kaplan has chosen to get ahead of a market in which owners and renters are demanding more sustainable living spaces. By showing that these solar ownership models not only provide more sustainable living, but they also make sense financially. Energy rates can be locked in and additional revenue can be generated from previously unused roof space,” said Michael Kushner, Infiniti Energy CEO.
Kaplan Companies is a family-owned real estate firm that has been in business since 1952. The five projects total more than 2 MW. New Energy Equity LLC is a financing partner to Infiniti Energy for the portfolio and Kaplan Community Solar is jointly developed with Nexamp.
Camelot at Bayonne Apartments in Bayonne, N.J., was the first of the five projects to be completed in June 2021, with Camelot at Townekake in Sayreville, NJ completed in December 2021. The other three will be completed and operational by June 2022.
The five projects include:
- Camelot at Bayonne – 156 kW
- Camelot at Townelake – 201 kW
- Gateway at Carteret – 180 kW
- Merriewold at Highland Park – 308 kW
- Kaplan Community Solar – 1,189 kW
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