WGL Energy To Build Solar Array For Susquehanna University
Zacks Investment Research | Dec 18, 2017 10:15PM ET
WGL Holding Company (NYSE:WGL) announced that its unit WGL Energy Systems (“WGL Energy”), has entered into an agreement to develop a 3.9 megawatt (MW) DC (3 AC MW) ground-mounted solar array for Susquehanna University.
Green energy generation from the solar array installation is expected to produce enough power to meet 30% of the university’s electricity needs.
Details of the agreement
The solar array is estimated to produce over 5,300 megawatt hours (MWh) per year of electricity. This is projected to be sufficient for powering the campus’ residence halls. The university has agreed to buy the electricity produced by the company under a 25-year power purchase agreement (“PPA”).
The company expects to benefit from its new alliance with the Susquehanna University, as it is so far the largest university-sponsored solar array in Pennsylvania.
How Will this be Beneficial?
We anticipate the aforementioned solar project, which is the company’s first solar project in Pennsylvania, to aid it to strengthen presence in the region and also help win more customers going ahead. The company’s ability to add new orders and customers will continue to drive its performance as we move towards 2018.
Price Movement
Shares of WGL Holdings have outperformed the Zacks Investment Research
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