Faropoint Starts Construction on First New Jersey Community Solar Project

SolarKal advises on 16-project portfolio totaling more than 10 megawatts of community solar capacity

HOBOKEN, N.J.--(BUSINESS WIRE)--Faropoint, a tech-enabled real estate investment manager specializing in last-mile industrial properties, has started construction on a 1.6-megawatt community solar installation on the roof of its building at 19-05 Nevins Road in Fair Lawn, New Jersey. The installation is the first of 16 Faropoint community solar projects in the state, which will have a total capacity of more than 10 megawatts.

The other 15 projects, totaling approximately 8.5 megawatts, have been accepted into New Jersey’s Community Solar Energy Program. Nine of them have received a notice to proceed, allowing construction to begin.

By leveraging its growing New Jersey portfolio, Faropoint is expanding access to renewable energy and delivering meaningful benefits to underserved communities. At least half of each project’s capacity is reserved for low- and moderate-income households.

“We aim to create positive community impact, increase access to clean energy, and become a responsible long-term owner in the markets where we operate,” said Brian Nave, Vice President of Asset Management and Renewable Energy at Faropoint. “As one of the top-five small-bay industrial owners in New Jersey, we believe our scale comes with a responsibility to drive meaningful sustainability initiatives. Utilizing previously unused portions of our buildings allows us to support the communities where we invest.”

The 16 projects are expected to generate approximately 12.7 million kilowatt hours of electricity a year and avoid an estimated 8,500 metric tons of carbon dioxide emissions. Based on EPA greenhouse gas equivalencies, that equals the annual electricity use of more than 2,000 homes.

“Managing solar across a large real estate portfolio takes persistence, coordination, and a lot of work behind the scenes,” said Yaniv Kalish, CEO of SolarKal. “Seeing the first of Faropoint’s New Jersey community solar projects move into construction is a major milestone. And with nine more projects cleared to proceed and a half dozen more behind them, that’s real progress for Faropoint and the communities these projects will serve.”

SolarKal, Faropoint’s independent solar advisor, has advised the firm on dozens of projects across its portfolio, providing financial analysis, competitive procurement, developer evaluation and selection, and ongoing project management. SolarKal also helped Faropoint select developers able to use available federal clean energy incentives before they are phased out.

Faropoint and SolarKal are also working on community solar projects in Illinois, New York, and Maryland.

About Faropoint

Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the U.S. industrial sector. With approximately 120 employees, Faropoint leverages data and deep market relationships to address inefficiencies in the industrial real estate market. The firm operates in 16 key U.S. markets, securing off-market deals through its extensive broker network and strong local presence. Since its inception in 2012, Faropoint has acquired over 600 warehouses and manages more than $4.9 billion in assets, including uncalled commitments. For more information, visit Faropoint.com.

About SolarKal

Celebrating its 10th anniversary, SolarKal is the leading commercial solar advisor in the U.S., helping commercial real estate owners navigate and execute solar projects. Through its proprietary marketplace of pre-vetted solar providers, SolarKal has powered a decade of smarter energy decisions by delivering competitive pricing, unbiased guidance, and turnkey project management to leading commercial real estate companies. Visit SolarKal.com.