Alterra Power Corp. (TSX: AXY) and Inovateus Solar LLC announced Jan 4 that their 7 MW (dc) Kokomo solar project in Indiana commenced full commercial operations on Dec. 29, 2016.
Alterra will hold a majority interest of at least 85% in the project, with final partnership allocation adjustments to occur in the first quarter of 2017.
Alterra will manage the project, which is located in Kokomo, Indiana, and sells 100% of its power under a 20-year agreement with Duke Energy Indiana. Inovateus managed the construction of the project and also provides operations and maintenance services under a long-term contract. The project provides 7 MW (dc) of clean power capacity to the community and is located on a remediated Superfund parcel of land.
John Carson, Alterra CEO, said: “We’re pleased with this achievement and the opportunity to work with our project partners Inovateus, 1st Source, and Duke Energy Indiana. We’re looking forward to further growth of our US solar business in 2017.”
“The Kokomo Project marks Inovateus’ first investment and ownership in a project, and it’s been an honor to work with our partners Alterra and 1st Source Bank,” said T.J. Kanczuzewski, President of Inovateus.
Alterra and Inovateus are also co-developing Spartan PV I, a 13.5-MW (dc) solar project in Michigan that is expected to enter construction in 2017.
Alterra Power manages eight power plants totaling 825 MW of generation capacity, including British Columbia’s largest run-of-river hydro facility and largest wind farm, the recently-completed Shannon and Jimmie Creek projects, two geothermal facilities in Iceland and Kokomo Solar. Alterra owns a 385 MW share of this capacity. Alterra also has an extensive portfolio of exploration and development projects.
Inovateus Solar is one of the leading solar development, EPC (engineering, procurement and construction), supply and operating companies in the Midwest. Headquartered in South Bend, Indiana, the company has developed and built more than 250 MW of utility, commercial and industrial, and microgrid solar systems in the U.S., the Caribbean and Latin America.
