Kaplan, a family-owned real estate firm that has been in business since 1952, was founded on the dream to create beautiful neighborhoods built for lasting value. The full-service solar power developer, Infiniti, has been proud to partner with Kaplan knowing solar will add to the lasting value of all five properties.
The five projects, which total more than 2 megawatts, will be completed under three different ownership models, including community solar, solar power purchase agreements and direct ownership.
Camelot at Bayonne Apartments in Bayonne was the first of the five projects to be completed in June 2021, with Camelot at Townelake in Sayreville completed in December 2021. The other three will be completed and operational by June 2022.
“Working with Kaplan on these solar projects has been good for Infiniti Energy to show the three ownership models we work with all provide strong value to real estate firms,” Michael Kushner, Infiniti Energy CEO, said. “Kaplan has chosen to get ahead of a market in which owners and renters are demanding more sustainable living spaces. By showing that these solar ownership models not only provide more sustainable living, but they also make sense financially. Energy rates can be locked in and additional revenue can be generated from previously unused roof space.”
“Our No. 1 core value at Kaplan is ‘do the right thing.’ Solar is the right thing to do. It not only provides clean energy to our communities, but it makes financial sense. And partnering with a trusted company like Infiniti Energy has given us the confidence that it has all been done right,” said Jason Kaplan, president of Kaplan Cos. “It makes so much sense, we even added solar to our residences.”
- Camelot at Bayonne, 156 kW;
- Camelot at Townelake, 201 kW;
- Gateway at Carteret, 180 kW;
- Merriewold at Highland Park, 308 kW;
- Kaplan Community Solar, 1,189 kW.
New Energy Equity LLC is a financing partner to Infiniti Energy for the portfolio and Kaplan Community Solar is jointly developed with Nexamp.