FORT DIX, N.J.--(EON: Enhanced Online News)--A groundbreaking ceremony for a 16.5 megawatt solar energy project was held today at Joint Base McGuire-Dix-Lakehurst (“JB MDL”), a mission-critical, tri-service military base in central New Jersey. The solar project—developed by an affiliate of Starwood Energy Group (“Starwood Energy”), of Greenwich, Connecticut, and an affiliate of Energy Management, Inc. (“EMI”), of Boston, Massachusetts is owned by an affiliate of True Green Capital Management LLC (“True Green Capital”) of Westport, Connecticut. The project is located on a capped landfill, and is the largest military solar installation in the Northeast. The project was developed pursuant to an effort by the military to achieve real asset optimization and long-term energy security.
“New Jersey’s leadership in solar energy policies is creating a healthier environment, greater energy independence and more stable energy costs for the region.”
“This project demonstrates the innovative pathways our Airmen and civilians are taking to strengthen mission assurance through energy assurance. The revenue generated by this solar project, built on a closed landfill, will provide critical funds dedicated to JB MDL's energy assurance plan. I applaud the installation's leaders and support staff for their creativity and persistence to bring this project to fruition,” said Miranda A.A. Ballentine, Assistant Secretary of the Air Force Installations, Environment and Energy, who cut the ribbon at the ceremony.
“We are pleased to contribute to the renewable energy objectives of the United States Military, and appreciate all of the support for this project from the Pentagon, Air Force Civil Engineer Center and the Joint Base McGuire-Dix-Lakehurst,” said Brad Nordholm, Senior Manager Director and Co-Head of Starwood Energy.
Highlighting the support provided by officials and agencies of the state of New Jersey to make the project possible, Jim Gordon, President of EMI, added: “New Jersey’s leadership in solar energy policies is creating a healthier environment, greater energy independence and more stable energy costs for the region.”
“We are thrilled to add another 16.5MWs of clean, renewable energy to our existing 12.3MW military housing installation currently operating at JB MDL, and we are grateful for the incredible cooperation and support from our military, development and construction partners,” said Bo Wiegand, Partner at True Green Capital Management.
True Green Capital and its affiliates will build, own and operate the project, in partnership with The Conti Group, of Edison, New Jersey.
- The project is part of the Air Force’s Enhanced Use Lease program, which seeks private developers to create mutually beneficial commercial projects on Air Force real estate.
- The project is located on 98 acres of land on Fort Dix that True Green Capital controls under a 40-year ground lease.
- Sited on the Dix Sanitary landfill, a former Superfund site, the project has been developed in close coordination with the New Jersey Pinelands Commission, New Jersey Department of Environmental Protection, and the JB MDL Environmental Restoration Program.
- Comprised of approximately 50,844 solar panels, the project will produce 21,315 megawatt-hours of renewable energy every year, enough to power over 2,500 homes.
- We estimate the project will reduce CO2 emissions by 15,000 metric tons, which is the equivalent of taking 3,000 cars off the road. [https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator]
About Starwood Energy Group Global, LLC
Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its general opportunity funds Starwood Energy Infrastructure Fund I and II, and other affiliated investment vehicles, Starwood Energy Group manages total equity commitments in excess of $2 billion and has executed transactions totaling more than $5 billion in enterprise value. The Starwood Energy Group team brings extensive development, construction, operations, acquisition and financing expertise to its investments, with a focus on the natural gas and renewable power generation, and transmission sectors. Starwood Energy Group is an affiliate of Starwood Capital Group Global, L.P. Additional information about Starwood Energy Group as well as Starwood Capital Group can be found at www.starwoodenergygroup.com.
About Energy Management, Inc.
Since 1975, Energy Management, Inc., of Boston, Massachusetts, has been developing innovative and award winning energy projects in the United States. The company focuses on developing renewable energy projects utilizing biomass, wind and solar energy technologies for a wide range of industrial, institutional and utility clients. Energy Management, Inc. can be found at www.emienergy.com.
About True Green Capital Management LLC
True Green Capital is a private equity firm based in Westport, CT specializing in energy infrastructure investments. Through its limited partnerships, True Green Capital manages over $400 million in long-term equity capital. True Green Capital targets asset-based investment opportunities with a focus on distributed power generation, including distributed solar. The firm is led by a team of energy industry professionals who have a proven track record of successfully developing, constructing, financing, and operating energy infrastructure assets.
Additional information can be found at www.truegreencapital.com.