In today’s rapidly changing world, the need for clean and affordable energy has never been more pressing. Congregation Ahavas, a prominent institution based in Highland Park, NJ, has taken a bold step towards a sustainable future by embracing solar energy. This innovative initiative not only reduces their carbon footprint but also presents an investment opportunity for potential investors interested in renewable energy. 

In this blog post, you can explore the investment offering and features of the Congregation Ahavas solar project.

Investment Offering

Target Amount: $420,000
Location: Highland Park, NJ

Offering Terms:

• 8% Annual Interest

• 5 Year Term

• Debt note in first lien position. As a collateral, the investment is backed by the project’s cash flows for 20 years. Investors receive 8% annual interest, 2% paid quarterly, for 5 years. The principal will be paid in full at the end of year 5.

The Congregation Ahavas Solar Project

The Congregation Ahavas solar project is a 105.6 kWdc behind-the-meter solar installation, located in Highland Park, NJ. This project has already been developed, approved for interconnection, built, fully subscribed, and is fully operational. 

Environmental Impact

One of the notable aspects of the Congregation Ahavas solar project is its positive environmental impact. Over its lifetime, this solar installation is estimated to avoid 2,448 Metric Tons of Carbon Dioxide equivalent. To put it in perspective, this reduction is equivalent to the emissions from driving an average gasoline-powered car for 6.2 million miles (according to the US EPA, 2023). This project can help mitigate climate change and promotes the direction of creating a cleaner, greener future.

Financial Benefits

Investing in the Congregation Ahavas solar project can offer attractive financial benefits (please read the Financial Disclosure, end of this Blog to understand the risks involved). In the first year alone, the solar installation is projected to generate savings of $13,367, and over the initial 15-year Power Purchase Agreement (PPA) term, estimated savings reach an impressive $200,505 (Source: Form C Congregation Ahavas). These substantial savings are made possible through reduced energy costs and the New Jersey Clean Energy Program’s (NJCEP) Transitional Incentive (TI) Program, which provides a fixed incentive compensation rate of $0.152/kWh for 15 years. 

 Team

TREX has financed the development and construction of the project and is looking for new investors to participate. The project has been developed by Associated Energy Developers (AED). The team has 30+ years of experience within the industry and has provided services for 300+ projects.

Robust Engineering and Execution

The Congregation Ahavas solar project stands out due to its robust engineering and execution. The project has obtained structural and electrical engineering approvals from licensed Professional Engineers, ensuring the highest standards of safety and performance. Additionally, the solar installation has executed an Interconnection Services Agreement (ISA) with Public Service Electric and Gas Company (PSE&G), securing a seamless connection to the grid, and obtained Permission to Operate (PTO) on 9/16/22.

Reliable Offtake and Permits

To ensure a smooth operation and seamless delivery of electricity, Congregation Ahavas has established a Power Purchase Agreement (PPA) with property owners for the duration of the PPA term. Under this agreement, the Congregation will separately pay for the electricity generated. Additionally, all necessary permits for construction have been obtained, and the project has received a Certificate of Completion from the electrical inspector of the Town of Highland Park.

High-Quality Equipment and Maintenance

The Congregation Ahavas solar project prioritizes quality and reliability. The installation utilizes Tier I solar equipment, including Hanwha Solar’s high-efficiency solar modules (480W) and Solar Edge inverters. By incorporating top-of-the-line components, the project ensures optimal performance and longevity. Moreover, an Operations & Maintenance Agreement with Associated Energy Developers (AED) ensures dedicated monitoring, timely maintenance, and efficient service teams dispatched through their Network Operations Center.

Market Advantage and Competition

Investing in renewable energy projects often involves competition for limited incentives and available offtake. However, with the Congregation Ahavas solar project, both incentives and offtake have already been secured. By participating in this project, potential investors can benefit from this stability associated with an established initiative.

Conclusion

Congregation Ahavas has demonstrated exceptional leadership in adopting solar energy and promoting sustainability. By investing in the Congregation Ahavas solar project, potential investors can contribute to projects fighting against climate change, while also potentially earning a return on their investment. With its successful execution, positive environmental impact, and potential returns, this solar initiative offers an opportunity for investors interested in renewable energy. Join the Congregation Ahavas on their journey towards a greener future and consider this sustainable investment opportunity.

Take Action

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