GREEN AMBITION: HARTZ MOUNTAIN ADDS FOUR ADDITIONAL SOLAR ARRAYS IN ITS HARMON MEADOW AND HARMON COVE DEVELOPMENTS
The Green Leadership award winning company, Hartz Mountain, has gone live with four new solar arrays, which boast 3.1 Megawatts (MW) of capacity, in its Harmon Meadow and Harmon Cove developments
SECAUCUS, NJ – JANUARY 2010 – Hartz flips the switch! Hartz Mountain, in collaboration with Staples, The TJX Companies, Inc. (owners of T.J. Maxx and Marshall’s), Sports Authority, Sunpower Corporation and Solar Energy Systems, has unveiled the newest installation of solar arrays within the Hartz Mountain real estate portfolio. The new installations, with 3.1 MW of capacity, will dramatically reduce carbon emissions over their lifetime.
Hartz is the first new solar installation launched since the New Jersey State Legislature passed the Solar Energy Advancement and Fair Competition Act (A3520) sponsored by Assemblyman Upendra Chivikula and Senator Bob Smith on January 11, 200.. Compared to previous State mandates, the Bill increases the amount of energy that must be produced from solar photovoltaics from the year 2010 onwards. It also provides more long-term certainty for solar developers and utilities by extending the end date of New Jersey’s solar program from 2021 to 2026 and by adopting certain measures to promote price stability in Solar Renewable Energy Certificates (SRECs).
Assemblyman Chivukula commented on the solar arrays. “In my time serving in the New Jersey Assembly, alternative and environmental sustainability have been in the forefront of my agenda, and I am proud to have sponsored a bill that will help increase the amount of solar energy used in New Jersey. The leadership demonstrated by Hartz Mountain, and its tenants - Staples, TJX Companies and Sports Authority - in reducing costs through alternative energy, is something that businesses should take note of."
Installing the four solar arrays, which went into service in December and total 3.1 Megawatts (MW) of capacity, cost just over $16 million. Of these four arrays, the largest is the Staples array at 600 Jefferson Avenue, which is 2 MW in size, and covers substantially the entire roof of the 339,000 square foot facility, making it the largest solar array in the state.
Hartz Mountain, having installed close to 10% of all new solar capacity in New Jersey in 2009, is the region’s leader in sustainable power and continues to seek ways to use its real estate to produce its own power from renewable sources and possibly produce power for others. In 2009, Hartz won New Jersey Business and Industry Association’s (NJBIA) “Environmental Quality Award.” Also in 2009, NJBIZ recognized President and Chief Operating Officer Emanuel Stern as the “Green Executive of the Year.” The tradition continues today. The new solar systems, along with Hartz’s first solar system at the Meadowlands Exposition Center, will annually produce approximately 4 million kWh of clean electricity – enough to power roughly 350 homes. Over their 25 year lifetime, these systems will reduce CO2 emissions by approximately 50,000 metric tonnes – equivalent to 6 million miles not driven – while also reducing emissions of smog and acid rain forming pollutants such as sulfur dioxide and nitrogen oxides. “Sustainability equals good business, as our returns are consistent with what we expect in other areas of our business,” said Emanuel Stern, President and Chief Operating Officer of Hartz Mountain. “We have over twenty million square feet of rooftops, yet are generating power from less than 5%, and so we are proud to celebrate the step we have taken, and look forward to the future growth of alternative energy that will result from the Solar Energy Advancement and Fair Competition Act enacted earlier this month.”
Financing for the four arrays was provided through the PSE&G Solar Loan Program as well as financing from TD Bank. "Just recently, PSE&G received approval to expand our innovative Solar Loan
Program by approximately $143 million to finance an additional 51 megawatts of solar energy," said Al Matos, PSE&G vice president of renewables and energy solutions. "Under the program companies may be eligible for a loan covering 40%-60% of the cost of the installation, and unlike other loans, may repay the loan in Solar Renewable Energy Certificates (SRECs). Hartz has taken great strides in advancing solar energy, and we were glad to be a part of these significant projects."
Adam Zellner, from Greener By Design, worked as a consultant to Hartz Mountain on its alternative energy program. “Hartz Mountain provides the example of how to approach an alternative energy program: do your homework, act early, think of new models for deployment, and find financial and cultural returns prior to commencing your program,” said Mr. Zellner. “The precedent Hartz is setting now will be norms in less than five years.”
About Hartz Mountain Industries, Inc.
Headquartered in Secaucus, NJ, Hartz Mountain Industries, Inc. owns and manages one of the largest privately held commercial real estate portfolios in the United States, comprised of approximately 200 properties and totaling more than 38 million sq. ft. in the northern New Jersey/New York area. Hartz employs a comprehensive approach to real estate that is facilitated by its full-scale in-house departments for leasing, management, finance, acquisition, architecture, construction, development, planning, and marketing, design and property management. By controlling the development process end-to-end, the company strives to remain at the forefront of commercial, industrial, retail and hotel development. Hartz has been recognized by NJPA Real Estate Journal as the “Best Developer of 2004” and the Business News New Jersey (NJBIZ) as one of the best places to work in New Jersey for 2004 and 2005. In 2009, Hartz won New Jersey Business and Industry Association’s (NJBIA) “Environmental Quality Award.” Also in 2009, NJBIZ recognized President and Chief Operating Officer Emanuel Stern as the “Green Executive of the Year.” Mr. Stern also won the 2009 Industry Service Award from the Meadowlands Regional Chamber of Commerce. For more information, visit Hartz’s web site at www.hartzmountain.com
ADDITIONAL QUOTES FROM TENANTS AND PROJECT VENDORS:
"Hartz Mountain Industries is leading the way to a clean energy future for New Jersey residents, and importantly, has continued to do so during challenging financial times. Hartz is supporting local companies, large and small, who are growing the clean-tech sector of New Jersey's economy. As a turn-key provider of solar power projects in the Northeast, Solar Energy Systems is proud and incredibly appreciative to be a part of this magnificent leap forward,” said David Buckner, President of Solar Energy Systems, LLC.
"Staples is proud to have the largest solar array in New Jersey,
resulting in both business and environmental benefits," said Ron
Nicholls, Staples Fulfillment Center Manager. "At two megawatts of
capacity, this solar installation at our Secaucus facility enables
Staples to reduce operating costs while freeing up more electricity for
use by local homes and businesses."
"SunPower offered turnkey design and installation services and high-efficiency solar technology to optimize the power generated by these arrays. We installed our innovative T5 Roof Tile product, engineered to reduce installation time and increase array serviceability in the future," said Tom Leyden, managing director at SunPower. "We applaud Hartz Mountain's leadership in taking advantage of New Jersey's superior solar incentive framework and PSEG's Solar Loan Program. Clean, reliable solar power makes good sense today for businesses and our environment.