New Jersey energy firm NJR Clean Energy Ventures has signed a deal with a real estate company to lease roofspace on four buildings for a $17 million solar project.

Adler Development, based in Edison, will provide space on fully occupied buildings in central New Jersey for 3.9 megawatts of solar generating capacity.

The leasing agreement stretches to 20 years, with plans to offer tenants of the buildings the chance to buy energy for rates lower than utility prices, under power purchase agreements.

The solar arrays will cover 900,000 square feet, making use of thin-film UNI-SOLAR solar panels provided by United Solar, the subsidiary of Energy Conversion Devices based in Rochester Hills, Michigan.

Savings

Laurence M Downes, chairman and CEO of NJR, said: “By maximizing underutilized space to provide clean, renewable energy in the state, we are effectively leveraging our expertise to help provide savings to our customers as well as meet our state’s renewable energy goals, create jobs and grow our company.”

The solar project, which should qualify for a 30% federal tax credit, is expected to cut carbon emissions by 3,200 tons each year.

NJR said it is expecting 65 construction jobs to be created by the installations, which could be completed by October 2010.