KDC Solar is kicking off construction on a 5.5 megawatt solar power system located in the Bridgeton and Fairfield Townships, New Jersey. The solar project will supply electricity to the adjacent Ardagh Group glass manufacturing facility, producing approximately 7.5 million kilowatt hours of renewable electricity in its first year.
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.
“This represents our second project with KDC Solar in New Jersey. Alan and the KDC team are experienced developers and we look forward to further expanding our project portfolio with them” said Everett Smith, Managing Partner of GoldenSet Capital.
“We’re delighted to have provided the financing for another large net metered solar project with KDC Solar and GoldenSet Capital,” said Bob Banks, CEO of Seminole Financial Services. “Repeat business is a tenet of our organizational philosophy and this execution proved to be extremely efficient. We look forward to many more successful projects together.”
— Solar Builder magazine