Eight utility-scale solar farms are being added to North Carolina's energy mix. The portfolio totaling 67.3 MW equals a reduction of carbon emissions for 7,946,325 million gallons of gasoline consumed. It brings the total North Carolina solar projects to 103.5 MW for the partnership between Sol Systems, National Cooperative Bank, and Strata Solar
"North Carolina has been an especially attractive market for tax equity investors in the solar asset class," commented Dan Yonkin, Tax Equity Director with Sol Systems. "They've been a driving force of growth making the Tar Heel state a national leader in skyrocketing the solar energy market."
North Carolina rose to the 2nd highest state for solar PV installation capacity with 397 MW installed in 2014 (2nd only to California). The state has 1,011 MW of solar energy currently installed, ranking the state 4th in installed solar capacity, and #11 in solar jobs per capita nationwide, with 5,600 solar workers
The portfolio is comprised of solar farms in eight communities across North Carolina: Godwin, Grover, Lumber Bridge, Maxton, Oakboro, Roseboro, Salisbury and West End
"Strata Solar has succeeded through diligent work and by executing on a proven strategy
Having the right partners is an important part of that strategy." said Markus Wilhelm, Co-founder and CEO of Strata Solar. This marks the fourth time Sol Systems, National Cooperative Bank, and Strata Solar teamed up.
All sites in the portfolio should be fully operational in July and August, and will generate enough clean energy to provide "National Cooperative Bank has had a great track record of financing solar projects in North Carolina", stated Matthew Wright, Senior Vice President.
"To date, NCB has funded 266 MW consisting of 44 projects/term loans totaling $126 million and 14 bridge loans totaling $51 million in North Carolina alone
Our collaboration with Strata Solar and Sol Systems has been very positive, and we look forward to working Sol Systems is on track to deploy over $200 million into the solar asset class, to finance at least 150MW of commercial and utility-scale projects across several states in 2015.
