ET Solar begins work on NC project
A subsidiary of ET Solar Energy and developer Geenex have closed financing and started construction on a 20MW(ac) solar PV project in North Carolina, which they intend to sell to Duke Energy’s renewables unit once it enters commercial operation later this year.
The facility is located on the former Halifax County Airport site. Solar power development there allows Halifax County to put idle property into productive use and generate revenue.
ET Solar has a 15-year off-take agreement for the facility’s full output with electric utility Dominion North Carolina Power.
"We will work closely with Geenex and ET Capital during construction, and once the project reaches commercial operation, we look forward to adding such a quality, community-centric installation to our growing portfolio of eastern North Carolina solar projects," says Brian Stallman, vice president of development, Duke Energy Renewables.
Geenex and ET Capital view this project as the beginning of their entry into the North Carolina solar market.
"This is just the start," says Geenex chief executive Georg Veit, "We look forward to making a significant economic contribution to the community and providing the residents of Northeast North Carolina with a reliable source of clean, renewable energy."
North Carolina is the only state in the US Southeast with a renewable portfolio standard. It requires all investor-owned utilities in the state to supply 12.5% of 2020 retail electricity sales (in North Carolina) from eligible energy resources. Municipal utilities and electric cooperatives have a 10% mandate by 2018.