Ecoplexus Inc. announced Sept. 14 that it has closed financing and commenced construction on five solar photovoltaic (PV) projects in North Carolina totaling 28 MW.
The projects have signed long-term power purchase agreements (PPAs) with Duke Energy Progress and Dominion North Carolina Power and will achieve commercial operations in late 2015. The five projects (Thornton, Old Catawba, Bradley, Little River, and Ouchchy), totaling $42 million in project value, are Ecoplexus’ second portfolio of North Carolina projects.
The company is developing a further 150 MW of North Carolina projects, with 50 MW of those set to commence construction in the next two months. These five projects will add to Ecoplexus’ current independent power producer (IPP) asset base that will reach 77 MW by year-end. Ecoplexus also manages a development pipeline of over 500 MW across six states and internationally.
“We’re proud to support North Carolina’s goal of increasing the availability of clean, renewable energy,” said John Gorman, CEO of Ecoplexus. “As part of our commitment to continued development in the State and region, we’ve opened an office in Durham, NC to support continued growth.”
Ecoplexus develops and operates distributed generation solar PV projects for the wholesale and retail distributed generation market in the U.S., and Japan via its wholly owned subsidiary Ecoplexus Japan KK. The company has constructed and financed over fifty projects to date, representing approximately $200 million in project value. Ecoplexus has a project pipeline exceeding 500 MW, representing over $750 million in project value, in the U.S., Japan and Turkey.