Key Equipment Finance Provides Financing for 488-Kilowatt Rooftop Solar Installation For Central New Jersey Grocery Chain NPGS/NWGS/SLGS
Superior, CO. (PRWEB) April 13, 2015 -- Key Equipment Finance, one of the nation’s largest bank-held equipment finance companies and an affiliate of KeyCorp (NYSE: KEY), today announced it has financed a 488-kilowatt solar installation across the NPGS/NWGS/SLGS grocery chain in Central New Jersey.
The solar installation across the rooftops of the three supermarkets is expected to generate $1.3 million in energy savings over its 25-year lifespan. The project is also supported by income from the sale of Solar Renewable Energy Certificates, which allow utilities to comply with state Renewable Portfolio Standards designed to encourage solar projects and sustainable energy solutions.
“Our supermarkets operate on a no-waste business model, and this should include the energy used to run the supermarket,” said Zeev Rothschild, owner of the NPGS/NWGS/SLGS grocery stores. “By working with our energy and finance partners to take advantage of tax incentives, we are now producing clean energy while reducing the electricity costs across our two stores in Lakewood and one in Jackson.”
The 488.52 kW installation of Yingli solar panels by Trinity Solar will generate 551,785 kilowatt hours annually, which equates to about one million pounds of carbon dioxide removed from the atmosphere or 366,390 gallons of water conserved.
“We are excited to bring solar energy to these three supermarkets, which are so integral to their local communities,” said Tom Pollock, president of Trinity Solar, a major retailer and installer of solar power systems in the northeastern United States. “By working as a team, we are able to harness free energy from the sun and demonstrate to other businesses how possible it is for them to do the same.”
“Custom financing solutions make projects like this grocery store rooftop installation possible,” said Doug Beebe, vice president, energy finance, for Key Equipment Finance. “We believe other businesses also can benefit from utilizing their rooftops for solar energy.”
Key Equipment Finance offers equipment financing and business leasing solutions to a range of business types and industries. Learn more at http://www.keyequipmentfinance.com.
About Key Equipment Finance
Key Equipment Finance has been in the equipment finance business for 41 years and is one of the largest bank-based equipment finance providers in the U.S. The company provides tailored equipment lease and finance solutions for commercial clients and government entities. Through its manufacturer and vendor alliances unit, equipment finance programs are developed for manufacturers, distributors and resellers.
Key Equipment Finance’s specialty finance group includes a specialty finance lending team, which provides structured facilities to various sectors of the specialty finance market, and a lease capital markets team to support corporations looking to optimize risk and revenue. Headquartered outside Denver, Colorado, Key Equipment Finance manages $9 billion in assets and originates $4.8 billion of equipment financing annually. For more information, visit http://www.keyequipmentfinance.com.
About KeyCorp
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation’s largest bank-based financial services companies, Key had assets of approximately $94 billion at December 31, 2014.
Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 12 states under the name KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
About Trinity Solar
Trinity Solar began as a family-owned HVAC company in 1994 and transitioned in 2004 toward installing solar electric systems for homeowners and businesses. The organization now employs over 500 personnel in several states serving over 30,000 energy-related clients, with more than 8,500 solar electric systems totaling over 105 MW operating on the East Coast. Trinity is one of the largest solar companies in the country and is an industry leader that has received local and national recognition for its achievements in the energy industry. For more information about Trinity Solar visit http://www.Trinity-Solar.com.
Stacey Hartmann, Keeton PR, http://http:www.keetonpr.com, +1 (303) 880-8451, [email protected]
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