KDC Solar, a developer, owner and operator of solar power facilities, has announced the start of construction on a 5.5 MW project in New Jersey’s Bridgeton and Fairfield townships.
The solar project will supply electricity to the adjacent Ardagh Group glass manufacturing facility. It will produce approximately 7.5 million kWh of renewable electricity in its first year.
“Ardagh Group is delighted to collaborate with KDC Solar on this renewable project,” says Bertrand Paulet, president and CEO of Ardagh Group’s North American glass division. “Upon completion, our Bridgeton facility will benefit from cleaner, more cost-efficient energy, consistent with Ardagh Group’s objective of delivering fully recyclable, sustainable packaging solutions to our customers.”
Alan Epstein, president and CEO of KDC Solar, adds, “We are excited to support the Ardagh Group in its quest to obtain competitively priced clean electricity for its operations. We look forward to a long relationship with this global leader in packaging solutions.”
Debt financing for the project was provided by Seminole Financial Services through a construction and a permanent loan facility. Development capital and project equity were arranged by GoldenSet Capital Partners in its role as sub-advisor to the North Sky Capital Alliance Fund II.
Everett Smith, managing partner of GoldenSet Capital, notes the project represents the firm’s second with KDC Solar in New Jersey.