Jan 6 2011
NuGen Capital Management and KDC Solar declared that they have entered into a partnership to formulate, build, own and manage large 1 to 10 MW behind-the-meter type commercial level solar systems in New Jersey. The partnership is backed by KDC Solar’s allegiance from private equity company Diamond Castle Holdings.
The partnership will install a 5 MW solar power system over the distribution warehouse of White Rose in Carteret, New Jersey, a building possessed by KTR Capital Partners, a private equity company. The solar system, one among the largest commercial level rooftop solar systems announced in New Jersey will meet substantial portion of the electrical power requirements of the warehouse owned by White Rose. Solar Power, a solar engineering and designing company is hired by the partnership to complete the construction of the project.
David Milner, NuGen’s founder and CEO, expressed happiness about entering a partnership with KDC Solar and said that the companies will have a close rapport in offering cost-effective solutions to its clients. He called the White Rose project as important and expressed his desire to repeat similar projects in the state.
Hal Kamine, CEO of KDC Solar, expressed his excitement in partnering with NuGen in projects that can fetch economical and ecological gains to the New Jersey solar market. He appreciated the policy makers of the state for providing an environment to venture in behind-the-meter type of solar power systems.