North Carolina is U.S.’s second highest state for solar PV installation capacity in 2014, with 397MW of solar power. Recently, 67.3MW of solar portfolio, comprised of eight utility-scale solar farms, has been added to the state’s energy mix.
The latest added portfolio brings the total North Carolina solar projects to 103.5MW for the partnership between Sol Systems, National Cooperative Bank, and Strata Solar. Currently, the state has 1,011MW of solar energy installed, ranking the state 4th in installed solar capacity, and #11 in solar jobs per capita nationwide, with 5,600 solar workers.
"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."
This marks the fourth time Sol Systems, National Cooperative Bank, and Strata Solar teamed up. All sites in the portfolio, which locates in eight communities across North Carolina, should be fully operational in July and August, and will generate enough clean energy to provide electricity for 9,714 homes for one year.
Matthew Wright, Senior Vice President of NCB, stated, "To date, National Cooperative Bank has funded 266MW 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 together on future transactions."
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.