Innovative Solar 43 LLC applied Jan. 21 with the Federal Energy Regulatory Commission for an order that accepts its market-based rate schedule under which it will sell electric energy, capacity, and ancillary services at market-based rates out of a North Carolina project.
Innovative Solar 43 is developing a solar photovoltaic project with a nameplate capacity rating of approximately 38.9 MW (ac) located in the Town of Ivanhoe, Bladen County, North Carolina. The project is located within the Duke Energy Progress balancing authority area in the Southeast region. The company has filed notices with the commission of its status as a qualifying small power production facility (QF) and as an exempt wholesale generator (EWG). The project is expected to begin generating test power during October 2016 and reach commercial operation during November 2016.
Innovative Solar 43 said it is committed to sell the entire output from the project under a 10-year power purchase agreement with Duke Energy Progress. The project will interconnect with the Duke Energy Progress-controlled grid at the Rowan Creek Solar Substation.
This project company is a wholly-owned subsidiary of FLS Energy Inc., a North Carolina corporation. FLS, in turn, is owned: 22.085% by CleanTech Alliance Direct Fund LP; 22.085% by NEC Cleantech Infrastructure Fund LP; 10% by an individual investor; and 45.83% in the aggregate by additional individual investors, each of which holds less than 10% of FLS’s ownership interests.