Ecoplexus Inc., a leading developer of solar photovoltaic (PV) systems, today announced that it has closed financing and commenced construction on five solar PV projects totaling 28 megawatts (MW). The projects have signed long-term PPA contracts with Duke Energy Progress and Dominion North Carolina Power and will achieve commercial operations in late 2015.
The five projects (Thornton, Old Catawba, Bradley, Little River, and Ouchchy), totaling $42 million in project value, are Ecoplexus' second portfolio of North Carolina projects. When fully operational, the 5 projects will provide clean, renewable energy for an average of 2,563 homes in North Carolina and an annual reduction of 22,841 metric tons of CO2. The Company is developing a further 150 MWs of North Carolina projects, with 50MWs of those set to commence construction in the next two months. These five projects will add to Ecoplexus' current IPP asset base that will reach 77MWs by year-end. Ecoplexus also manages a development pipeline of over 500 MW across six states and internationally.
"We're proud to support North Carolina's goal of increasing the availability of clean, renewable energy," said John Gorman, CEO of Ecoplexus. "As part of our commitment to continued development in the State and region, we've opened an office in Durham, NC to support continued growth."