NJR Clean Energy Ventures (NJRCEV) seeks to invest in clean energy projects that create economic value for project site hosts, including a reduction in electricity costs, roof or land lease payments and building upgrades. Since its inception in 2010, the company has built a portfolio of 93 megawatts of installed capacity. Projects include residential and commercial solar, combined heat and power and on-shore wind, developed through its investment in OwnEnergy.
NJRCEV leverages the financial strength, reputation, scale and energy services expertise of its parent company New Jersey Resources (NJR), a member of the Fortune 1000, to create sustainable advantages in finding, building and maintaining its project portfolio. NJR's shareowners also benefit from projects' investment tax credits, accelerated depreciation, renewable energy credits and fees from host sites for clean power.
Through a disciplined clean energy portfolio investment plan, NJRCEV seeks to produce long-term predictable earnings growth to add to NJR's record of consistent financial earnings.