Newark-based PSEG Solar Source, a subsidiary of PSEG Power, announced Thursday it has acquired its sixth solar farm in North Carolina, from BayWa r.e., representing an investment of approximately $10 million.
The PSEG Halifax Solar Energy Center, which is a 7 MW-dc solar energy facility, has a 15-year power purchase agreement with Virginia Electric and Power Co. The facility occupies 28 acres under a lease with the Halifax-Northampton Regional Airport in Halifax, North Carolina.
“We are delighted to work with BayWa r.e. on this project, a best-in-class partner,” said Diana Drysdale, president of PSEG Solar Source. “We continue to focus on expanding our renewable energy business and this acquisition is another example of PSEG’s commitment to a sustainable energy future.”
PSEG Solar Source completed the acquisition from BayWa r.e. in December 2017.
“BayWa r.e. is extremely pleased with the continuing partnership with PSEG and move to a better answer for the sustainable electrification of our grid,” said Jam Attari, CEO of BayWa r.e. Solar Projects. “This world-class facility could not have been completed without the tireless support and involvement from the Northampton County community and our partner Geenex.”
With this purchase, PSEG Solar Source now operates 23 solar facilities throughout 14 states.