Please ensure Javascript is enabled for purposes of website accessibility

PSEG Powers Up 6th Solar Farm

By Justin Loiseau - Dec 19, 2013 at 11:54AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Phoenix facility will power 3,500 homes via Pinnacle West Capital Corporation's local utility.

Public Service Enterprise Group (PEG -0.44%) announced today that its 19.3 MW solar farm outside Phoenix is officially online.

The farm can produce enough electricity to power around 3,500 homes, and all the power has been sold to Pinnacle West Capital Corporation's Arizona Public Service Company under a 30-year power purchase agreement.

"PSEG Solar Source is pleased to add a second Arizona project to our growing solar fleet," said Diana Drysdale, President of PSEG Solar Source. "PSEG Solar Source is actively seeking additional utility-sized solar projects in the U.S., where companies either need to meet renewable energy requirements or want to offer their customers clean, emissions-free solar energy."

This is PSEG's second solar facility in Arizona, and its sixth nationwide.

PSEG Solar Source currently owns:

  • PSEG Milford (Del.) Solar Farm, a 15 MW DC solar farm.
  • PSEG Queen Creek (Ariz.) Solar Farm, a 25 MW DC solar farm.
  • PSEG Wyandot (Ohio) Solar Farm, a 12 MW DC solar farm.
  • PSEG Jacksonville (Fla.) Solar Farm, a 15 MW DC solar farm.
  • Mars Solar Garden, a 2.2 MW DC facility adjacent to Mars Snackfood's U.S. headquarters in Hackettstown, N.J.

PSEG says it relied on a variety of corporations to bring its latest project to fruition, including Juwi Solar for development and construction, Canadian Solar for the panels, Array Technologies for the automatic sun tracking system, and Power One for power inverters.


Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Public Service Enterprise Group Incorporated Stock Quote
Public Service Enterprise Group Incorporated
$68.34 (-0.44%) $0.30
Canadian Solar Inc. Stock Quote
Canadian Solar Inc.
$27.06 (1.35%) $0.36
Pinnacle West Capital Corporation Stock Quote
Pinnacle West Capital Corporation
$74.94 (0.55%) $0.41

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/18/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.