Innovative Solar claims funding

Innovative Solar Systems says it has obtained construction financing for more than 200MW of shovel-ready solar PV projects in North Carolina, but declined to provide details to Recharge.

A company official says he was not in position to discuss the financing source or the projects involved, and abruptly ended the telephone conversation with Recharge.

In a statement, company chief executive John Green says that construction will start “almost immediately” on the projects.

He adds that Innovative Solar Systems is now seeking credit worthy entities that would like to sign letters of intent to secure the rights to buy and own these projects at COD.

Green says the company will be executing final interconnection agreements with “the utility company” as well as final purchase power agreements.

Innovative solar Systems in based in Asheville, North Carolina.