Only a week after announcing an initial agreement with CubeSmart Self Storage, Green Stream Holdings is adding two new sites. The CubeSmart community solar project in Hackensack, NJ, will increase the originally anticipated revenue of $3.9 million an additional $6.6 million. Over 25 years, the project is expected to draw in an estimated total of $9.9 million in revenue.
The CubeSmart community solar project allowed Green Stream to install solar panels on several of the company’s self-storage facility roofs. Initial planning and design are expected to be finished within months and, if all goes as anticipated, construction will begin by the end of 2020. This includes the original agreement and the two new locations in the updated plans revealed on July 1.
According to Green Stream’s president, Madeline Cammarata, the CubeSmart community solar project is a step toward implementing renewable energy in the private sector. Cammarata stated that the expansion and the original project would demonstrate how the company can make efficient use of solar energy. Green Stream will continue to seek out new expansion options to build new facilities and increase its revenue. With each project, the holdings company looks to reduce its carbon footprint.
Green Stream Holdings is a part of Green Stream Finance, Inc. of Wyoming. The leading provider of innovating solar solutions has satellite offices in New York and California and is licensed in parts of the United States and Canada. Its subsidiary, Green Rain Solar, LLC, is responsible for managing solar greenhouses through proprietary greenhouse design and technology. Along with the agreement with CubeSmart, Green Stream also has ventures with Morali Architects and was responsible for the Ferry Street Solar Project in Newark.
CubeSmart has multiple locations throughout New Jersey, including spots in Cherry Hill, Whippany, Elizabeth, Lumberton, Hoboken, and Brick Township.