Public Service Enterprise Group Inc. reached an agreement with state regulatory staff to invest as much as $446 million to build solar-power projects in New Jersey.
The utility plans to spend $247 million on 42 megawatts of solar farms atop landfills and brownfields and another 3 megawatts of smaller projects through a program, Newark, New Jersey-based Public Service said today in a statement. It also will invest as much as $199 million on 97.5 megawatts of new sun-powered systems through a separate program.
The investment will occur over three years, compared with an earlier five-year plan.
The proposal is subject to public comment and the New Jersey Board of Public Utilities is expected to issue a decision by May 31.