Innovative Solar Systems Signs 48-MW PPA with Duke Energy

Innovative Solar Systems, LLC (ISS) has just executed a power purchase agreement (PPA) with Duke Energy for its 48-MW solar farm project, Innovative Solar 41 (IS 41) which is located in Bladen County, N.C., and will be constructed in 2015.

Stock - panel, handIS 41 was one of the selected projects that qualified for the Duke Energy Request For Proposal (RFP) that was announced earlier in the year. Signing the 15-year PPA with Duke Energy on this project is “very exciting” stated representatives for ISS this week. IS 41 will be built on approximately 300 acres of level farm land located in the middle of the state and will employ almost 200,000 highly efficient solar photovoltaic panels producing enough energy to power almost 10,000 area homes. Advanced Energy has been approved as the inverter manufacturer for this project due to the level of sophistication and reliability offered in the company’s utility scale inverters.

The actual owner/operator for this solar farm has still not yet been determined and many potential investors are flying in and out of the area daily to view the site and meet with the partners at ISS to determine if this project will be an addition to their existing renewable energy assets. A project of this size is a $100,000,000 investment and is the perfect size to add to the renewable energy portfolios of many companies. ISS is in negotiations with several entities for the purchase of this project along with several other shovel ready projects currently available by the company. ISS company spokesman, John Green, stated that adding so much capacity to the grid in 2015 is very exciting for his company as they work on a possible merger in 2015 when the company plans to go public and begin expansion into a number of other states.

— Solar Builder magazine

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