PSEG returns to juwi for more PV
Public Service Enterprise Group, the New Jersey energy giant, will buy a 3.6MW(dc) PV plant from juwi solar in Vermont, further deepening the relationship between the two companies.
Construction at the 3.6MW Essex array in Vermont is slated to kick off imminently and wrap up by the end of the year. The project will sell its electricity to the Vermont Electric Power Producers under a 25-year PPA, and will lift PSEG’s total solar portfolio to 110MW.
As it has in its other deals with PSEG, juwi will act as EPC contractor and stay on to operate the plant.
PSEG Solar Source has emerged over the last two years as the most important customer of juwi solar, the Colorado-based US solar subsidiary of German renewables group juwi, acquiring multiple projects from the developer across a variety of states.
This spring PSEG announced a deal with New Jersey regulators that will see it invest more than $440m into PV projects across the state over the next three years.
Earlier this month juwi announced it will embark on a restructuring and cost-cutting programme that will see around 400 jobs eliminated.
The company’s shift towards overseas markets – including the US – has not been enough to offset the collapse in its core German solar market.