(Greenwich, CT) – Altus Power Management announced the signing of a long-term solar Power Purchase Agreement (PPA) with the Irvington Township Housing Authority (IHA) in Irvington, NJ to invest in a five-building solar project. This solar PPA will offset a significant portion of IHA’s electricity usage with clean, carbon-neutral electricity. The roof-mounted solar systems will be designed and installed by Solar Energy is Power, Inc., an experienced full-service New Jersey-based solar installation and integration company. Altus Power will finance, own and operate the systems.
Irvington Housing Authority will make no capital investment and will receive significant savings through the purchase of discounted clean electricity. The solar arrays will generate approximately 197,000 kilowatt-hours of electricity per year. “We are excited to make this investment and help the IHA reduce its carbon footprint, save on electricity costs, and continue to achieve its important community goals,” said Tom Athan, co-founder of Altus Power Management.
The forward-thinking IHA hopes to serve as a benchmark for the community and other similar agencies with its pursuit of clean energy. David A. Brown, Executive Director of IHA, said, “The housing authority will be installing solar panels on a number of buildings located on our campus with the intent of lowering electricity costs and saving taxpayers money. Additionally we will be helping the environment by reducing dependence on non-renewable sources, and lowering our CO2 emissions. We welcome other housing authorities to join us in this worthy endeavor.”
About Altus Power Management
Altus Power Management, LLC is an Old Greenwich, CT-based company that invests in, owns and manages clean energy projects. Its principals draw on their deep expertise in finance, construction, engineering and design to provide renewable energy and solar solutions to commercial and public sector clients. Visit www.altuspower.com for more information.
About Solar Energy is Power
Solar Energy is Power, Inc. is a full-service solar installation and integration company based in East Stroudsburg, Pennsylvania and is solar certified in PA, NJ and NY. Visit www.energyinthebank.com for more information.
About Irvington Township Housing Authority
The Housing Authority of the Township of Irvington was originally incorporated in 1949, in order to develop, maintain, and manage safe, affordable rental housing for eligible low-income senior and family households. Visit www.ihanj.org for more information.