Invenergy Clean Power LLC on Sept. 22 announced a build-transfer agreement to construct and sell its Morgans Corner Solar facility in North Carolina to Dominion Resources (NYSE: D), one of the nation’s largest producers and transporters of energy.
The 20-MW facility located in Pasquotank County is Invenergy’s first project in the state of North Carolina. Proceeds from the transfer will be used for continued expansion of Invenergy’s business of investing in development activities across North America.
“We have seen significant growth in the demand for solar energy, and the Morgans Corner project demonstrates Invenergy’s ability to develop and construct utility-scale solar facilities that provide long-term, clean renewable energy,” said Invenergy’s EVP and Chief Development Officer Jim Shield. “We’re pleased Dominion wants to take ownership of this great project and we look forward to exploring additional opportunities to work with them in the future.”
Invenergy’s first operational solar project was the 20-MW Grand Ridge Solar farm, located adjacent to the Grand Ridge Wind project in La Salle County, Illinois. The company noted that it has a pipeline of more than 3,500 MW solar projects in various stages of development across the U.S. and Canada.
Invenergy’s home office is located in Chicago and it has regional development offices in the U.S., Canada, Mexico, Japan, and Europe. Invenergy and its affiliated companies have developed more than 9,100 MW of projects that are in operation, in construction, or under contract, including 76 wind, solar, and natural gas-fueled power generation projects and energy storage facilities.
North Carolina approval for this sale was sought on Sept. 14
Morgans Corner Solar Energy LLC and Dominion North Carolina Power had applied Sept. 14 at the North Carolina Utilities Commission for a transfer of a Certificate of Public Convenience and Necessity for this in-construction, 20-MW (ac) project from Morgans Corner to Dominion. The companies asked for an expedited approval by Dec. 3, so that this facility can achieve commercial operations under Dominion North Carolina Power’s ownership by year-end, but no later than April 1, 2016, which is needed in order to take advantage of state energy tax credits.
DNCP said it intends to sell the electric energy output of the facility to a dedicated non-jurisdictional customer in Virginia, the U.S. Department of the Navy, for use at the Norfolk Naval Base. That base is just across the state line from the northeast corner of North Carolina.
The managing member of Morgans Corner is Invenergy Solar Development LLC, a subsidiary of Invenergy Clean Power, which is in turn an affiliate of Invenergy LLC, the nation’s largest independent wind power generation company.
Virginia Electric and Power, doing business in North Carolina as Dominion North Carolina Power and in Virginia as Dominion Virginia Power, is a unit of Dominion Resources.
In October 2014, Morgans Corner filed an Application for a Certificate of Public Convenience and Necessity for this project, located near U.S. Highway 158 in Pasquotank County, within DNCP’s North Carolina service territory.