KDC Solar LLC, a leading developer, owner and operator of solar power facilities announced today that it has begun construction on a 23.5-megawatt solar photovoltaic system in Jackson, New Jersey. This system will supply Six Flags Great Adventure with clean renewable energy and virtually all its electrical load at the park.
When completed, the project will be the largest net metered solar installation in the State of New Jersey.
The solar facility will produce approximately 30 million kilowatt hours of clean electricity in the first year. Additionally, the environmental benefits of the project will be equivalent to providing power for 2,787 homes for a year or removing approximately 108,000 cars from the road.
Debt financing for the project was provided by Seminole Financial Services through a construction and a permanent loan facility. Development capital and project equity was arranged by GoldenSet Capital Partners in its role as sub-advisor to the North Sky Capital Alliance Fund II.
Alan Epstein, President and CEO of KDC Solar said: “We are very pleased and proud to have been selected by Six Flags Great Adventure for this groundbreaking solar project. We also want to recognize and thank our partners, GoldenSet Capital Partners and Seminole Financial Services, for providing the necessary capital to build this project.”
Bob Banks, CEO of Seminole Financial Services said: “As a company built on a relationship-first philosophy, we’re grateful for the opportunity to work alongside such highly respected organizations as KDC Solar and GoldenSet Capital. We’re honoured to have provided the financing for this monumental project.”