Yingli Green Energy Holding Company Limited (NYSE: YGE), a solar energy company which holds the brand "Yingli Solar," and The New York Jets announced the completion of a solar power system at the Jets' team headquarters and training center in Florham Park, NJ. This is the largest photovoltaic (PV) installation at a NFL team headquarters, utilizing over 3,000 Yingli Solar panels. Syncarpha Capital, the system owner, selected SunDurance Energy, LLC for the turnkey design and construction of the project, and partnered with Evolution Energies, LLC as the project developer. All of the power generated by the system will be sold to The New York Jets under a long-term Power Purchase Agreement (PPA).
"The New York Jets are excited to be at the forefront of incorporating solar energy into the NFL. When we decided to add solar energy to the Atlantic Health Training Center, going green was the catalyst," said Thad Sheely, New York Jets' Executive Vice President of Finance and Stadium Development. "This project is the first of many green initiatives on behalf of the team, and we are proud to be green in color and also in deed. We chose the right partners and are thrilled about what this installation will do for our organization, our community, and hopefully for inspiring the entire league."
"We are excited to have formed a long-term partnership with the New York Jets, and to align our brand with the most popular sport in America," said Robert Petrina, Managing Director of Yingli Green Energy Americas. "We commend the Jets for their commitment to renewable energy, as well as the dedication of Syncarpha Capital and SunDurance Energy to make this project a reality - it's truly a winning combination."
The Atlantic Health Training Center solar installation also marks another prominent solar success for the state of New Jersey, which is currently a U.S. leader in solar energy, second only to California. Designed to generate over 750,000 kilowatt-hours of electricity for the building each year, the project will reduce CO2 emissions by 540 metric tons each year, which is equivalent to taking over 100 cars off the road. By utilizing a power purchase agreement, the team will also save tens of thousands of dollars each year in electricity expenses with no capital outlay.
"Syncarpha Capital welcomes the opportunity to partner with the New York Jets, a visionary sports franchise and role model of corporate sustainability, as its long term provider of zero carbon power. Today's announcement is evidence of our exemplary partnership and ideally provides direction for all other professional sports franchises," commented Cliff Chapman, Co-Managing Partner and Co-Founder of Syncarpha Capital.
Work began at the Training Center in late June, and the project was generating power approximately eight weeks later.
"We're proud to have finished this project on-budget, and on-schedule, just in time for the NFL season," said SunDurance Energy CEO, Al Bucknam. "Designing and building a solar project that will stand the test of time requires the same commitment to execution excellence that is required for success in the NFL. The New York Jets demand the very best from themselves and from their partners, and we appreciate the opportunity to be a part of this stellar team."
Additionally, Nautilus Solar Energy, LLC, a privately owned independent power producer headquartered in Summit, New Jersey, will provide ongoing asset management services.
