Atlantic Green Power Signs Project Accord with Invenergy for Solar Project Development

Atlantic Green Power Holding declared that its functioning auxiliary, Atlantic Green Power has traded its major stakes in a limited liability project business located in Delaware to Invenergy Solar Development, an associate of Invenergy.

The deal includes repayment of the project investments and prospective consideration over the joint improvement of a solar project located in southern New Jersey.

The joint solar development project will produce 18 MW of clean solar power and is placed in an advanced place in the interconnection queue of PJM. The proposed project will be placed over a number of land packets and the rights for the lands have been allotted by Invenergy to the project company. The project company is one among the number of limited liability companies initiated by Atlantic Green Power for the solar projects development in southern New Jersey.

Jim Shield, Chief Development Officer and Executive Vice President of Invenergy, has stated that the new venture will allow the company to make an entry into the New Jersey solar market by joining an existing solar project that remains at a higher place in the interconnection queue position.