Principal Solar, Inc.
Construction began the week of August 17, 2015, and the project is expected to begin generating power before the end of 2015. In the transaction, PSI will continue to play an important role in completing the project’s development phase and sold its interest in the project to affiliates of Entropy.
“This agreement with affiliates of Entropy represents a significant milestone for the Company,” says Michael Gorton, CEO, PSI. “We have established a relationship with a high-caliber team of solar and finance professionals at Entropy, and have positioned PSI to build additional utility scale projects with them. This is the next major step toward our goal of owning and operating gigawatts of solar electricity generation.”
PSI will continue to manage the construction of the project and will oversee the achievement of critical development milestones.
“PSI’s team has done a great job of getting this project ready to build. The team’s expertise will continue to be pivotal to completion on our accelerated schedule. PSI has demonstrated a commitment to seeing this project through and at the same time is positioning itself to leverage the success of this project for its own future growth. We are very excited about the opportunity to be a part of this marquee project as well as future endeavors,” said Lewis Reynolds, managing partner, Entropy.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.