Fairfield, N.J., May 10, 2012 — Lincoln Renewable Energy, a developer of solar and wind projects, held a dedication ceremony for its 12.5 MW N.J. Oak solar project.
Local officials joined LRE management at the project site in Cumberland County, N.J., which consists of about 53,000 solar panels constructed on a 100-acre site.
At the ceremony, LRE also announced it has formed a partnership with Samsung C&T Corp. to further advance its business plan in U.S. renewable energy. Samsung C&T and LRE have formed a 50/50 joint venture company named Monument Power LLC. LRE has contributed its most advanced solar PV project-development sites to Monument Power.
LRE has raised more than $100 million in external financing to fund its growth and is developing more than 30 solar and wind projects in 11 states managed from offices in Chicago, Austin, Denver and Hoboken, N.J.