North Carolina Utility Scale Solar Farm Receives 15 Year Duke Energy Purchase Power Agreement

North Carolina Utility Scale Solar Farm

North Carolina Utility Scale Solar Farm ( Solar Thermal Magazine)

ASHEVILLE, N.C., Sept. 17, 2014.¬†¬†Innovative Solar Systems has just recently received a 15 year purchase power agreement from Duke Energy on the company’s IS 41 project, a 48MW(AC) solar farm to be built in North Carolina and be online in late 2015.

Innovative Solar 41 is just one of many utility scale solar farm projects that ISS has in the company’s portfolio of projects for sale in 2015. ISS company spokesman, John Green, is very excited about this project due to the size and amount of energy being added to the grid in the upcoming year. This is a perfect site in Bladen County NC for a solar farm states Green and construction should move rapidly once ground is broken which is scheduled sometime in early spring. The PPA signed on this project is with Duke Energy and is for fifteen years which should facilitate financing for the actual buyer, or investor on this project.

The project will be constructed on approximately 300 acres of farm land with panels oriented to face due south. Bids are being accepted from some of the largest panel manufacturers in the world for the roughly 200,000 solar panels that will generate enough electricity to power about ten thousand homes in this area. Advanced Energy is a leader in the area of Utility Scale Inverters and has been chosen as the inverter of choice for this project. The benefits to the county are many once this solar farm is brought on line in 2015. Tax revenue from this project will be a welcome addition to this area along with increased jobs and a huge reduction in the country’s carbon footprint.

Utility scale solar farm projects like this are always a welcome addition to the areas where they are built and ISS has been contacted by many counties and municipalities over the years wanting projects like this one to be built on the county’s land for the reasons discussed. A project of this size requires an investment of approximately $100MILL, but if the tax credits and incentives are monetized the overall returns for investors can be most attractive. ISS is taking the company public sometime next year and CEO John Green states that with almost 1 Gigawatt of projects in N.C., the company’s expansion is occurring rapidly.

Please contact Innovative Solar Systems at (828)-215-9064 to learn more.

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