Could Your Next Investment be in North Carolina Solar?
Asheville, North Carolina-based Innovative Solar Systems (ISS) is looking for investors for its new 35 MW solar farm in Robeson County, NC. Stationed in the city of Maxton about an hour south of Fayetteville, the newly-approved farm is ideal for investors because of the amount of capital required, lower installation costs, and reduced operating costs.
The site will incorporate 120,000 solar panels and span nearly 200 acres of land. It’s estimated the farm will power 10,000 homes in the area. In addition to the direct energy production, the farm is expected to bring jobs and economic growth to the citizens of Robeson County.
As soon as the contract for the project is signed, construction is set to being.
ISS’ CEO John Green says that the new farm will employ the latest in utility-scale solar technology and will become a showcase plant for the company. Green believes that an investment from a panel company is a win-win, since it would ultimately be the company’s panels that get used on the farm.
ISS as a company is continuing to grow, as well. In the 2014-2015 timeframe, it is expected to install more than 1 GW of solar. It also has operations in 6 other states that provide incentives for solar.
Green believes that a 35 MW project is perfect for investing, since he recognizes that most investors require a $50,000,000 threshold and a project of that size fits that well.
“The principals at ISS know how to structure solar investments to provide dependable returns and guaranteed exit strategies for investors,” the company’s website reads. “State mandated renewable energy targets are forcing utility companies to purchase more and more renewable energy in the future. PV solar farms are one of the more attractive ways for utilities to purchase solar power at competitive prices.”
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.