PEG News

10 MW Solar project MOU signed

Jan 25, 2011: Precise Energy Group, Space Energy and Shanghai Solar entered into a MOU to jointly develop a 10 MW solar energy utility scale project with a project cost of approximately $45MM in south New Jersey. Shanghai Solar is a subsidiary of a Fortune 10 company from China and brings in latest technology from their aerospace division which is applied to their photovoltaic panels with higher efficiencies resulting in better economic values.

Approval for the Interconnection Agreement with PJM was received in the 4th quarter of 2010 and now with recent favorable incentives, the project is in its final pre-construction phase. This 10 MW solar energy plant is expected to start producing clean energy by the 3rd quarter of 2012.