FLS Energy begins construction on 38 MW of solar PV farms spread out across North Carolina. The farms are expected to generate enough energy to power 5000 North Carolina homes each year.
FLS Energy has announced that it will begin construction on 38 MW of solar PV farms spread out across North Carolina. The projects will be constructed, owned, and operated by FLS Energy. The electricity generated from the sun will be sold to Duke Energy through a 15-year Power Purchase Agreement.
The eight solar farms will generate 56 MWh of electricity each year, enough to power 5000 North Carolina homes. The entire project was financed by Fifth-Third Bank and Self Help Credit Union.
The company has installed 50 MW to date, so this project adds nearly 80% to its utility-scale portfolio. FLS Energy has an additional 350 MW worth of projects in the pipeline. To better put these numbers in perspective, North Carolina installed 400 MW of new solar capacity in 2013.
FLS Energy announced in April that over the next 12 months, it would acquire approximately 100 MW of solar PV projects located within the Duke Energy or Dominion North Carolina Power service territories.
“This type of scale in utility solar was thought impossible just a few short years ago” said Dale Freudenberger, CEO of FLS Energy.
FLS Energy is based out of Asheville, North Carolina. The company was founded in 2006 and employs nearly 50 people across the region.