Bloomberg to Construct 1.8-Megawatt Solar Power System at New Jersey Facility

Strategic Insights -

Bloomberg LP is taking a significant step towards environmental sustainability by constructing a 1.8-megawatt solar power system at its Skillman, N.J. facility. The system, completed by the end of 2011, will generate enough power to meet 58 percent of the facility's electricity demand. This is the first renewable energy project undertaken by Bloomberg, which aims to develop nearly 6.0-megawatts of solar power in NJ within the next three years.

Key Takeaways:

  • The 1.8-megawatt solar power system will be constructed at Bloomberg's Skillman, N.J. facility and will generate enough power to meet 58 percent of the facility's electricity demand.
  • The system is expected to be completed by the end of 2011 and will be owned by Solar Star NJ VI, LLC, a wholly-owned subsidiary of Integrys Energy Services, Inc.
  • Bloomberg will buy the power generated from the system at prices below retail rates, providing a long-term hedge against rising power prices with no initial capital investment.
  • The system will use high-efficiency SunPower solar panels and the SunPower T0 Tracker system, which increases sunlight capture by up to 25 percent over conventional fixed-tilt systems.
  • This is the first renewable energy project undertaken by Bloomberg, which aims to develop nearly 6.0-megawatts of solar power in NJ within the next three years.
  • Bloomberg has initiated more than 300 internal environmental projects globally in the last three years, resulting in over $25 million in net operating savings.
  • The project will help Bloomberg deliver on its commitment towards achieving its energy and environmental goals.

Statistics:

  • The 1.8-megawatt solar power system will generate enough power to meet 58 percent of the facility's electricity demand.
  • The system will be completed by the end of 2011.
  • Bloomberg aims to develop nearly 6.0-megawatts of solar power in NJ within the next three years.
  • Bloomberg has initiated more than 300 internal environmental projects globally in the last three years.
  • These projects have resulted in over $25 million in net operating savings.
  • The system will use high-efficiency SunPower solar panels, which are the most efficient solar panels available on the market today.

Sources:

  • Bloomberg LP
  • Integrys Energy Services, Inc.
  • SunPower Corp.
  • Bloomberg Sustainability Report
  • Bloomberg Press Release