Innovative Solar Systems, LLC (ISS) has received all approvals and is ready to break ground on a 75MW Solar Farm in Fayetteville, NC. When being completed, the project will be one of the largest solar power plants in the south East, and the electricity generated is covered with long-term purchase power agreements (PPAs).
"A massive solar energy generating site of this magnitude will generate enough electricity to power approximately 15,000 to 20,000 average size homes," states John E. Green, CEO of Innovative Solar. ISS has all approvals in place which include interconnection agreements, long term purchase power agreements, state, federal, and regulatory approvals for Innovative Solar 42, which will be constructed on approximately 500 acres of farm land in Fayetteville, NC.
ISS is in final negotiations with several large institutional size investment firms that seek to be the long term owner of this Solar Farm facility. "This project provides for a long term PPA and a very flat, easy build site which makes this a financially attractive Solar Farm project for many potential buyers," states Green. The company has already secured competitive bids from some of the most credit worthy EPC's in the U.S. that can construct this project by the end of 2015 while also providing the long term operating and maintenance contracts required by investors. Designing and building Utility Scale Solar Farm projects like Innovative Solar 42 is nothing new to ISS states the company's CEO in a statement recently.
Innovative Solar Systems has approximately 500MW of Shovel Ready Solar Farm projects available for immediate sale and build out here in the U.S. and another 1GW of projects in various stages of development in about six other renewable energy friendly states. ISS has a long track record of developing large scale solar projects and is preparing to expand into all fifty states after a merger this year which will provide the capital required to expand operations on a national level. A long range IPO is also in the planning stages.