RUTGERS STATE UNIVERSITY LOAN CLOSING

Rutgers State University closed earlier this week on a $37,000,000 construction loan with the NJ Water Bank to replace the power generating turbines with increased capacity and other related equipment upgrades at the Busch Cogeneration Plant. 

Project benefits at a glance

Project cost: $37 million

Estimated energy cost savings: $1 million

Market participation credits rebate: $1.86 million

Total financial savings: $2.86 million in 2018 dollars

New technology emissions decrease: 50%

Water usage elimination: 8 million gallons of water per year