Faropoint， An industrial real estate management company has initiated the construction of a 1.6 megawatt community solar power facility on the roof of a building located in Fairawn, New Jersey. This facility is the first of 16 community solar projects planned by the company to be built throughout the state, with a total capacity of over 10 megawatts.

The remaining 15 projects, totaling approximately 8.5 megawatts, have been approved for community solar projects in New Jersey. Nine of the projects have received notices to commence construction and are ready to start.

Our goal is to create positive community impact, expand access to clean energy, and become responsible long-term owners in the markets we operate in, "said Brian Naf, Vice President of Faropoint Asset Management and Renewable Energy. As one of the top five small industrial owners in New Jersey, we believe that our scale comes with a responsibility to drive meaningful sustainable development initiatives. By utilizing previously unused parts of our buildings, we are able to support the communities we invest in

It is expected that these 16 projects will generate approximately 12.7 million kilowatt hours of electricity annually, which is equivalent to the annual electricity consumption of over 2000 households.

Managing solar projects in a large real estate investment portfolio requires perseverance, coordination, and a lot of behind the scenes work, "said Yaniv Kalish, CEO of SolarKal. Seeing Faropoint's New Jersey community solar project enter the construction phase is an important milestone. Moreover, nine projects have been approved for advancement, and there are still half a dozen projects ahead, which is a real progress for Faropoint and the community that these projects will serve. ”

Faropoint's independent solar consultant SolarKal has provided advice on dozens of projects for the company, including financial analysis, competitive procurement, developer evaluation and screening, and ongoing project management. SolarKal also helps Faropoint screen developers who can utilize existing federal clean energy incentives to avoid them becoming ineffective before they are gradually phased out.

Faropoint and SolarKal are also conducting community solar projects in Illinois, New York, and Maryland.