This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Half Moon Ventures Unveils One Of New York's Largest Rooftop Solar Energy Projects At I.Park Hudson Complex In Yonkers

YONKERS, N.Y., Dec. 6, 2012 /PRNewswire/ -- Half Moon Ventures, LLC (HMV), a Chicago-based developer of solar and wind energy projects, unveiled its first solar electric power generation system in New York at a ceremony on the roof of i. Park Hudson yesterday, joined by Yonkers Mayor Mike Spano and Joe Cotter, principal of real estate development firm National Resources of Greenwich, CT.  The multi-million dollar installation – which blankets as much square footage of rooftop as two professional football fields – is one of the largest in the state of New York and, when operational next month, will generate significant energy for the many users of electricity housed in the 24-acre technology, office and industrial complex in the heart of Yonkers.

(Photo:  http://photos.prnewswire.com/prnh/20121206/PH25455 )

"We are thrilled to bring this cutting-edge solar energy system to i. Park Hudson in Yonkers at no cost to the State, County, City or landlord," said Michael Hastings, CEO of Half Moon Ventures ( http://www.hm-ventures.com/). "The environmental benefits, including easing demand on the grid and reducing carbon emissions, are tremendous. There are many other benefits as well. This is a win-win on a very large scale and we hope that this project provides a template and role model for future commercial energy projects here in New York and beyond."

Hastings cited numerous other advantages of solar power projects like the installation at i. Park Hudson, including: reducing energy costs; locking-in electric power rates for the long-term in a volatile environment; financing major infrastructure improvements; increasing property values; and creating jobs. In the case of i. Park Hudson, where tenants include heavy consumers of electricity such as Kawasaki Rail Cars, the solar energy system will provide as much as 15 percent of the power to the complex, dramatically reducing its reliance on Con Edison's system, especially during peak use summer hours.

"The City of Yonkers is proud to be home to Westchester County's largest commercial rooftop solar power system," said Yonkers Mayor Mike Spano, who as a member of the State Assembly co-sponsored of the New York Solar Industry Development and Jobs Act. "Private sector investments such as this play an important role in helping to blaze the trail toward a greener, stronger New York."

"As a developer and owner with a fervent interest in sustainability and preserving resources, we thought this arrangement with Half Moon made great sense for the National Resources business model," said Joseph Cotter, president of National Resources, which owns i. Park Hudson. "Anything that helps us operate as a responsible member of the community, take good care of our tenants, and improve our asset is a welcome development. Half Moon's wealth of experience in sustainable energy made them the logical choice to work with us on this."

At i. Park Hudson, which is home to the City of Yonkers, Westchester County, the New York State Division of Motor Vehicles, St. Joseph's Hospital, Skil-Care Corporation and others, as well as Kawasaki Rail, the solar panels are housed on four different roof areas across the eight-building complex. Two on-site inverters will convert the panel-generated power from direct current (DC), the form in which it is generated, to alternating current (AC), the form in which it is consumed.

"This site is a good fit for solar because it has enough rooftop square footage to locate the panels and inverters, because the cost of electricity in this region is fairly high, and because the tenant base consumes enough electricity to make the cost savings significant," Hastings said. "Using the 110,000 square feet of rooftop, we'll generate enough power on-site to ease demand on the grid by about 15 percent and ease the owner's operating costs considerably."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs