BillyBobBob
16.06.2021 3:21:09
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NEW YORK , Jan. 7, 2013 /PRNewswire/ -- True Green Capital Management LLC and CIT Group Inc. (NYSE: CIT) today announced the December closing of $35 million of financing and commencement of construction for a 12.3 megawatt solar photovoltaic energy installation at Joint Military Base McGuire-Dix-Lakehurst in Burlington County , New Jersey. The installation is a portfolio company of True Green Capital Management, a New York -based private investment firm specializing in asset-based investments in distributed renewable power. In addition to equity contributed by True Green Capital Management, CIT Energy served as Sole Lead Arranger in a $24 million senior secured credit facility provided by CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc. Terms of the transaction were not disclosed.
The U.S. Air Force granted its support and consent for the solar power plant to provide electricity at a reduced rate for a period of 20 years to the privatized military family housing community at Joint Base McGuire-Dix-Lakehurst, the U.S. military's only tri-service installation, consisting of McGuire Air Force Base, Fort Dix and neighboring Naval Air Station Lakehurst.
The project under construction currently employs over 120 engineering, electrical, installation and maintenance workers and upon completion scheduled for the second half of 2013 will generate an estimated 13.7 million kilowatt hours of renewable electric power annually. According the Environmental Protection Agency, this annual level of clean, sustainable power production offsets in excess of 1 million gallons of gasoline or approximately 22 million barrels of foreign crude oil each year. more
Find contact info for Trinity Solar employees more
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