Ecoplexus closes financing on 25-MW North Carolina solar project

Ecoplexus Inc. announced Oct. 29 the closing of financing for the 25-MW Watson Seed solar photovoltaic project in Whitakers, North Carolina, that has a long-term contract to supply Virginia Electric and Power d/b/a Dominion North Carolina Power.

The project will be installed with approximately 150,000 Solar Frontier Americas modules and will achieve commercial operation in late 2015. Its completion will mark the ninth Ecoplexus project in North Carolina and a total of 53 MW in the fourth quarter of 2015. Representing $45 million in project costs, the project increases Ecoplexus’ current independent power asset base, which will stand at 77 MWs by year-end.

The project has a signed long-term power purchase agreement with Dominion North Carolina Power. Once fully operational, the system will provide North Carolina with approximately 40 gigawatt-hours of clean electricity annually.

“We are pleased to contribute to Dominion’s renewable energy portfolio and play a role in providing North Carolinians with affordable clean energy,” said John Gorman, CEO of Ecoplexus. “With our office in Durham, NC and our projects in the region, we are committed to delivering real and lasting benefits to North Carolina and neighboring states.”

Charles Pimentel, COO of Solar Frontier Americas, commented: “We are pleased our advanced CIS modules were selected for this PV project developed by Ecoplexus, a company dedicated to building high quality, clean-energy plants.”

Ecoplexus develops, owns and operates solar PV projects for the utility and industrial markets in the U.S., and also in Japan via its wholly owned subsidiary Ecoplexus Japan KK. The company has developed and financed over 50 projects to date.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.