Tioga Energy and Energy Finance Company Go to the Beach: Solar Power for Wildwoods Convention Center
Project partners gather for commissioning ceremony at New Jersey event hub
WILDWOOD, N.J. – July 24, 2012 – Tioga Energy and Energy Finance Company (EFC), leading providers of renewable energy services to commercial, government and non-profit organizations, today celebrated the commissioning of a 473-kW solar electric system for the Wildwoods Convention Center overlooking the beach in Wildwood, N.J. Tioga served as the project developer and managed the project through construction, with financing provided by Energy Finance Company, who will also own and operate the solar power system. Under the terms of a Tioga SurePath™ Solar power purchase agreement (PPA), electricity generated by the solar energy system will be sold to the Wildwoods Convention Center at rates less than those of the local utility.
A 260,000 square-foot meeting and exhibition facility located on the Wildwoods Boardwalk, the Convention Center now obtains 24 percent of its electricity needs from solar energy. Designed for optimal performance in the coastal environment, the new rooftop installation enables the Convention Center to reduce electricity costs and meet its goals for sustainability. The project reduces the facility's CO2 emissions by 179 tons annually, equating to 387,500 vehicle miles not traveled. Additionally, the Wildwoods Convention Center received a full roof replacement as part of the agreement.
New Jersey-based energy consulting firm Gabel Associates supported the Wildwoods Convention Center throughout the development of the project, including a thorough evaluation of proposals in which Tioga Energy was recommended as the preferred developer.
"Already boasting a number of environmentally friendly design aspects, the Wildwoods Convention Center is a longtime champion of environmental sustainability. Now, a decade after opening its doors, the organization furthers its green vision, reducing operational costs through the use of renewable energy," said Paul Detering, CEO of Tioga Energy. "We're confident this system will prove to be an essential component to everyday operations while serving as a solar beacon for the greater Wildwood community."
Energy Finance Company CEO Reyad Fezzani commented, "We are truly excited to provide the capital required to construct, own and operate EFC's first East Coast project at such a noteworthy location. Wildwoods Convention Center is an excellent addition to our solar power portfolio and we are also pleased that the project was 100 percent constructed by local unions including an IBEW affiliate, representing approximately 4,800 man-hours."
Pro-Tech Energy Solutions managed all engineering, procurement and construction (EPC) services for the project that included IBEW Local 269 Member Huen Electric.
"When our solar initiative presented some late-stage challenges, the team at Tioga Energy went above and beyond to help us overcome the hurdles and see it through to completion," said John Siciliano, Executive Director of the Greater Wildwoods Tourism Improvement and Development Authority, the operating agent for the Wildwoods Convention Center. "Thanks to the expertise of all the players involved, we can now provide a solar-powered experience for our visitors from around the world."
About Tioga Energy:
Tioga Energy enables commercial, government and non-profit organizations to reduce electricity costs and enhance environmental sustainability without any capital outlay. Through its SurePath™ Solar power purchase agreement (PPA), Tioga Energy owns and operates more than 100 renewable energy systems across the U.S., providing its customers the opportunity to reduce energy costs and hedge against electricity rate volatility while lowering carbon emissions. For more information, please call 877-333-9787 or visit www.tiogaenergy.com. To access and download Tioga Energy's SurePath Solar PPA, please visit: www.tiogaenergy.com/annotated-ppa-index.php.
About Energy Finance Company:
Energy Finance Company (EFC) was formed to provide the capital for quality credit commercial, municipal and government customers desiring solar power systems. EFC's Funding Solar Energy Fund, LP (the "FUSE Fund"), is the vehicle that owns and operates the solar projects and provides up to 100% of the capital required. The FUSE Fund uses a unique business model that offers a simple, low-cost way, to purchase solar electricity. FUSE Fund has a strategic relationship with SolarNet, the largest solar distributor in the United States with over 7,000 solar and electrical dealers. www.energyfinancecompany.com
About Gabel Associates:
Gabel Associates, Inc. is an energy, environmental and public utility consulting firm that has been providing quality consulting services in New Jersey for almost 20 years. The firm possesses a unique combination of economic, financial, marketplace, regulatory, and analytical skills and has been at the forefront of renewable energy policy development in the State. Gabel Associates has been involved in the development of over 200 renewable projects for various technologies, including solar, wind, biomass, and landfill gas-to-energy. Please visit www.gabelassociates.com for more information.
About the Greater Wildwoods Tourism Improvement and Development Authority:
The Greater Wildwoods Tourism Improvement and Development Authority (GWTIDA) was formed in 1993 to consolidate the tourism economy of its three founding municipalities: Wildwood, Wildwood Crest and North Wildwood. The Tourism Authority operates the Wildwoods Convention Center and acts as the island's destination marketing organization overseeing the development, research, planning, marketing, advertising, promotion, public and media relations encompassing the tourism, meeting and convention industry in the Wildwoods. Additionally, the Authority funds, assists with and hosts more than 180 annual special events to enhance the visitor experience and extend the tourism season. For more information about the Wildwoods, contact the GWTIDA at 1-800-WW-By-Sea (800-992-9732) or visit its web site, www.WildwoodsNJ.com.
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