PSEG Solar source buys 25.2 MW solar project in Arizona from juwi

The PSEG Queen Creek Solar Farm is expected to begin construction in January 2012 and be completed in the 3rd quarter of 2012

Newark, N.J., January 11, 2012 — PSEG Solar Source completed the acquisition of a 25.2 MW DC (19 MW AC) solar project developed by juwi solar Inc.

The PSEG Queen Creek Solar Farm is expected to begin construction in January 2012 and be completed in the 3rd quarter of 2012. The project will be located on 158 acres of land about 30 miles southeast of Phoenix, Arizona. PSEG Solar Source paid about $75 million for the project.

The PSEG Queen Creek Solar Farm will use crystalline panels and a single axis tracking system. In September 2011, the Salt River Project Agricultural Improvement and Power District entered into a long-term power purchase agreement to acquire all of the solar energy generated by the project for 20 years.

Under separate agreements, juwi solar Inc. will engineer, procure and construct the facility as well as perform operation and maintenance services for the project. The project will be owned by PSEG Solar Source, a unit of PSEG, a diversified energy company based in New Jersey.

PSEG Solar Source is one of two PSEG units active in solar energy. PSEG's regulated gas and electric utility in New Jersey, PSE&G, currently owns 52 MW of solar in New Jersey, consisting of 18 solar farms and more than 150,000 pole attached solar panels. In addition PSE&G is administering a $105 million solar loan program.

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