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SunDurance Energy and Nautilus Solar Energy to Build Solar Power Facility at William Paterson

WAYNE, N.J. - William Paterson University (“WPU”), SunDurance Energy, LLC (“SunDurance”), and Nautilus Solar Energy, LLC (“Nautilus Solar”) announced today an agreement to build the largest solar energy facility at a university in the United States. The 3.5 MW solar energy project (“Project”) will comprise of rooftop and parking lot solar installations on the WPU campus in Wayne, New Jersey. The first 3 MW phase is expected to go on-line during the summer of 2010; the remaining 500 kW is expected to go on-line in early 2011.

“Nautilus Solar is proud to support WPU’s leadership in sustainability by supplying low cost clean solar power”, said Nautilus Solar CEO James M. Rice. Nautilus Solar will finance, own and operate the solar facility under a 15-year Power Purchase Agreement (“PPA”), through which WPU will purchase a renewable energy source at a reduced rate without any upfront costs. The solar power system is expected to reduce WPU’s energy costs by $4.3 million over the 15-year term. The Project will be designed and constructed by SunDurance Energy, a leading NJ based solar system installer. Nautilus Solar will fund the installation in part through a loan provided by New Jersey Economic Development Authority.

Stephen Bolyai, WPUNJ’s Vice President for Administration and Finance, states, “This project will be a landmark project for the University. In addition to reducing our energy costs and carbon footprint, the solar facility will provide excellent learning opportunities to our students.” The elevated arrays covering the parking areas allow economically attractive deployment of solar power without the challenges that often accompany such projects in urban and suburban environments. "By creatively using its parking areas to maximize productive space, William Paterson University is expanding the potential for solar energy in New Jersey," said Al Bucknam, CEO of SunDurance Energy. "SunDurance Energy is thrilled to be designing and building this innovative project in collaboration with our financing partner, Nautilus Solar Energy."

“The project will contribute to a reduction of air pollution and improve the air quality in New Jersey, while creating green jobs in the region. We are looking forward to installing similar solar facilities at other schools and universities”, said Laura Stern, President of Nautilus Solar.

Based on the standards set by the U.S. Environmental Protection Agency, by generating over 3,392,000 kWh of solar energy annually, the WPU solar system will annually displace the equivalent of over 5,369,000 pounds of CO2 emissions, keep over 465 cars off the road, displace the equivalent of over 5,600 barrels of oil, satisfy electricity demand for over 300 households, or reap the benefits of planting over 63,000 trees.

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