The New Jersey Board of Public Utilities (NJBPU) has announced the selection of winning projects under the second Competitive Solar Incentive (CSI) Program Solicitation, marking a significant leap forward in the state's renewable energy goals.
According to a statement released on Friday, the NJBPU's decision will facilitate the deployment of 310.21 MW of new solar generation capacity and 80 MWh of energy storage paired with solar generation. The selection process prioritized projects based on the lowest bid price in the competitive solicitation.
Eight solar generation projects emerged victorious in the competitive solicitation, spanning seven counties across the state. These projects represent a diverse range of initiatives aimed at advancing New Jersey's renewable energy agenda.
“The selection of these projects underscores our commitment to fostering sustainable energy solutions and driving progress towards a cleaner, greener future for New Jersey,” remarked a spokesperson from the NJBPU, highlighting the strategic significance of the initiative.
The competitive solicitation awards Solar Renewable Energy Certificates (SREC)-IIs for qualifying grid supply projects and large net metered projects exceeding 5 MW in five distinct market segments, or tranches. This approach ensures a comprehensive approach to incentivizing renewable energy development across various sectors of the economy.
With the successful selection of winning projects, New Jersey takes a significant step towards achieving its renewable energy targets while promoting innovation and investment in the state's clean energy sector.
