Business & Finance

Solar Panel Project Halts; Three Counties Look to Pay Back Millions

BASKING RIDGE, NJ - A massive environmental project was undertaken to install solar panels on public buildings in three New Jersey counties. The electricity generated in Morris, Somerset and Sussex counties was supposed to be sold to pay off the debt from the project and eventually create revenue for the counties. The project cost $88 million and is currently on hold as court proceedings continue to sort out the financial debt since the halt of the project.  

However, four years later, there are million of dollars that have been lost and the $88 million must be repaid to the bondholders of the project even if the panels are not installed.  

"The bondholders will be paid, regardless of how," said John Eskilson, the Sussex County administrator.

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The plan was for developer SunLight General to create solar panels on top of schools and other public buildings in the counties. The reason for the loss in funds is that the state solar-energy tax credit market fell after the project was already started leading to the current financial problems.

The current dispute is between the contractor and the developer as the counties try to save the project. The suit, which has been going on for the last seven months, will hopefully be resolved so that the project can continue and the counties can pay back the $88 million to bondholders.

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Basking Ridge

Somerville Approves 40-Acre Transit Village with Route 206 Gateway

May 13, 2018

SOMERVILLE, NJ – Somerset Station, an expansive Transit Village featuring apartments, townhouses, retail stores and a community center alongside the NJ Transit Raritan Valley line - with an interior roadway providing access to Route 206 - was given site plan and subdivision approvals by the Planning Board following a 3 ½-hour meeting Wednesday night.

The final application is based ...

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The Wayrick Gallery, Scherman Hoffman Wildlife Sanctuary, Bernardsville

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Somerset Hills YMCA Swim Team has Record-Breaking Short Course Season

May 22, 2018

BASKING RIDGE, NJ - In April, Somerset Hills YMCA (SHY) Swim Team Parent Organization celebrated the team’s 2017-2018 season with its annual Awards Banquet held at the Westin Governor Morris in Morristown. The event celebrates swimmers and the contributions of coaches and parents. This year, the team had quite a few record-breaking accomplishments to be proud of.

As a charitable ...

SURVIVING A STROKE: Quick Medical Response Gives Mom Her Life Back

Carotid artery dissection. It’s one of the most common causes of stroke in younger adults.

And while you might not associate the word “stroke” with younger patients, the condition – if not treated immediately – could lead to paralysis and even death.

Lindsey Singh can attest to the importance of immediacy. The 31-year-old mother of two from Flanders experienced ...


AtlantiCast: Episode 15

On this week’s AtlantiCast, learn some important tips for controlling and avoiding diabetes from an Atlantic Health System expert, see how Atlantic Health is advancing cutting-edge research, hear what’s being done to keep health care environmentally friendly and much more!