Solar power developer Ecoplexus Inc. closed financing for a 25 MW solar photovoltaic project in Whitakers, NC. The project will be installed with about 150,000 Solar Frontier modules and will achieve commercial operation in late 2015.
Its completion will mark the ninth Ecoplexus project in North Carolina and a total of 53 MW in Q4 2015. Representing $45 million in project costs, the project increases Ecoplexus' current IPP asset base, which will stand at 77 MW by year-end.
The project has a signed long-term power purchase agreement contract with Dominion North Carolina Power. Once fully operational, the system will provide North Carolina with about 40 GWh of clean power annually, enough to power an estimated 3,800 households. The renewable power generated will offset 27,404 metric tons of CO2 emissions, equivalent to the emissions sequestered from nearly 23,000 acres of forest annually.
"We are pleased to contribute to Dominion's renewable energy portfolio and play a role in providing North Carolinians with affordable clean energy," said John Gorman, CEO of Ecoplexus. "With our office in Durham, N.C. and our projects in the region, we are committed to delivering real and lasting benefits to North Carolina and neighboring states."