Innovative Solar Systems works on merger, financing possibilities

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.

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.