Avidan Management, an owner and manager of industrial and commercial real estate, was joined today by State, regional and local elected officials and dignitaries to announce the completion of a 4.26-megawatt PV system will generate renewable energy for tenants located at a company-owned distribution facility at 145 Talmadge Road in Edison, N.J.
The installation not only places Avidan Management at the forefront of a new, clean-energy economy in the United States, but also establishes the firm as a leader in the industrial real estate industry that will show how economies from renewable energy can attract and retain high-value commercial tenants.
Over the course of the past couple of months, about 17,745 solar panels have been installed on the roof of the 656,255-square-foot facility. The solar electric system will produce more than 5 million kilowatt hours annually, enough to service about half of the power needs of the building’s multiple tenants, which utilize the facility as office space and for the storage of dry goods and refrigerated and frozen foods.
“At Avidan, we take great pride in promoting environmentally conscious business practices that not only create healthier, more sustainable work environments, but that also make sound business sense,” said Avi Avidan, Managing Member of Avidan Management. “In addition to the substantial environmental benefits this system affords, we are now able to provide our tenants with clean energy that costs 30 percent less than conventional energy sources.”
“This significant project would not have been possible were it not for the support of our public officials, as well as our great partners at Solar Nation and SolarWorld. On behalf of the entire team at Avidan Management, we would like to thank you for creating the climate where a business like ours can undertake such a large-scale renewable energy project,” Avidan added.
Edison Mayor Antonia Ricigliano, said, “We, in Edison Township, pride ourselves on being both economically and environmentally conscious. We join Avidan in taking proactive steps to ensure the preservation of our natural resources and the health and well-being of our all our residents, particularly our children. In so doing we aid in the financial stability of our nation.”
State Senate Majority Leader Barbara Buono said, “Today, Avidan Management has demonstrated its commitment to progress and innovation by completing the nation’s largest rooftop-mounted solar panel system. Despite our economic challenges, we recognize the significance of renewable energy in creating a greener and brighter future for all New Jersey residents.”
Assemblyman Upendra Chivukula, said, “The importance in Solar Renewable Energy Credits to promote the development of the solar industry in New Jersey is critical. Avidan is creating new jobs and helping our environment through their program. I salute them for their good work.”
Lee A. Solomon, President of the NJ Board of Public Utilities, said, “Solar is not just a form of clean, distributed generation but, as can be seen from this project, represents an opportunity to improve the bottom line for the businesses involved, enabling them to grow in New Jersey, and stimulate economic development."
SolarWorld’s Kevin Kilkelly, president of sales for the largest and most experienced U.S. solar manufacturer, paid tribute to the Avidan family’s renewable-energy and industry leadership.
“By recognizing and seizing the economic gains that solar power can bring to industry, bold business decision-makers like Avi Avidan will lead this country into a stronger, cleaner, more secure energy future,” Kilkelly said. “We at SolarWorld stand up and applaud his family business for setting a new American milestone.”
Dan Drummond, President of Solar Nation, Inc., said, “Solar Nation is proud to have been selected for the Avidan project and to be part of the team that is making solar energy a reality in New Jersey. In concert with state and local government, Avi Avidan has led the way toward a renewable future by building North America’s largest rooftop installation. Our hats go off to Avi and his team.”
“We are pleased to add the Avidan Management project to the portfolio of more than 250 solar systems using our loan program and we congratulate them for installing the largest rooftop solar system in the U.S.,” said Al Matos, vice president – renewables and energy solutions for PSE&G. “By making this major commitment to renewable energy and using our solar loan program to help remove finance barriers, Avidan is showing that solar power makes sense for both the environment and for a company’s bottom line.”
Investors Savings Bank provided financing for this solar installation. “Investors is pleased to partner with Avidan Management and proud to help make this project a reality for the state of New Jersey. We are committed to green energy programs and hope to do more projects of this nature in the future,” said Kevin Cummings, Investors Savings Bank’s President and CEO. “We were able to underwrite this facility based on our commercial real estate lending group’s knowledge and commitment to the New Jersey State Clean Energy program.”
Tenants of 145 Talmadge Road will receive a portion of their electricity under a Power Purchase Agreement arrangement. Avidan Management will purchase the solar-generated electric output from Avidan Energy Solutions and in turn sell the power to its tenants at a substantially reduced cost than they would be able to purchase at market rates.
In addition to the solar panel installation, Avidan Management has also undertaken a comprehensive retrofit of the building’s lighting to upgrade the system to energy-efficient standards, and has improved the building’s insulation in order to maximize the facility’s overall energy efficiency.
