Innovative Solar Systems LLC (ISS), which in the last couple of years has gotten North Carolina Utilities Commission approvals for a number of solar power projects, said Oct. 7 that it is working on a possible merger.
Company CEO John E. Green said the company is in talks with many U.S. investment groups, energy funds and potential capital partners as well as foreign entities about the possibility of a corporate merger that would allow ISS to expand solar farm development work to more states, markets and countries. ISS said it currently has over twelve large scale solar farm projects ready for construction totaling almost 400 MW and another pipeline of 2 GW of projects that are to be shovel ready by the first quarter of 2016.
Most of the projects being developed by ISS are ground-mounted photovoltaic solar farms that range in size from 5 MW to 80 MW with current projects being offered in the southern and midwestern United States.
The company said it has had an extensive track record in states like North Carolina where the company currently has three of the largest solar farms under construction in the Eastern U.S. ISS said it has closed on over 800 MW of solar farm projects in North Carolina alone and is currently developing utility-scale projects in 12 other states as the company rapidly expands.