In order to attract more buyers and investors for a 500MW portfolio of Shovel Ready Solar Farm projects, Innovation Solar System, LLC is meeting potential ones and accumulating supports to get the system on line sometime in 2016 before the 30% Federal Tax Credits expire for renewable energy. With such an uncertain future for these large scale solar farms many sophisticated buyers and investors are buying as many of these large projects as possible so that the projects can be brought on line and thus utilize the Federal Tax Credits which are imperative for a good rate of return.
Innovative Solar Systems has already sold hundreds of megawatts of these solar farm projects earlier this year. Innovative Solar 46 project which is 80MW and located in Hope Mills, NC, Innovative Solar 42, a 75MW just sold that is located in the Fayetteville, NC area, are two of the examples. Large scale solar farm projects like these take well over a year a develop and obtain all approvals, contracts, permits etc. and then approximately another year to build so with Innovative Solar Systems, LLC having such a large portfolio of construction ready projects the company has become quite popular with both Independent Power Producers that seek Utility Scale Solar Farm projects as well as investment bankers, hedge funds and private equity groups.
Innovative Solar Systems, LLC currently has approximately 500 MWs of "Shovel Ready" Solar Farm projects ready for sale and immediate construction. These projects range in size from 35MW, 40MW, 50MW and 80MW and have all necessary approvals and contracts in place.