79-MW Innovative Solar 46 project due for operation in November 2016

Innovative Solar 46 LLC filed Sept. 16 at the Federal Energy Regulatory Commission a notice of self-certification of Exempt Wholesale Generator status based on its development, ownership and operation of an approximately 78.5-MW (ac)) solar photovoltaic facility located at Hope Mills in Cumberland County, North Carolina.

This facility is currently under construction and is within the Duke Energy Progress (DEP) balancing authority area. Applicant expects the facility to begin generating test power during November 2016 and to reach commercial operation shortly thereafter.

The output of the facility is fully committed to DEP under a firm 15-year power purchase agreement. Applicant received market-based rate authorization from the commission on June 29, 2016.

Innovative Solar 46 is currently owned by Carolina Energy Partners II LLC, and pursuant to the transaction described in the market-based-rate application, is selling 100% of the equity interest in the applicant to Cypress Creek Fund 5 LLC, an indirect wholly-owned subsidiary of Cypress Creek Holdings LLC. The facility will not be operational until after the transaction closes.

A project contact is: Jerome O’Brien, General Counsel, Cypress Creek Renewables LLC, 3250 Ocean Park Blvd., Suite 355, Santa Monica, CA 90405, (973) 220-1530, legal@ccrenew.com.

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.