Renewable energy firm Clean Energy Pathways has signed a joint venture agreement with Green Mountain Properties to develop a $28m solar power plant in Green Mountain, North Carolina, US.

As per the agreement, Green Mountain will provide 40 acres of land for the solar power facility.

Clean Energy Pathways will be the lead developer, engaging ESA Renewables as co-developer to provide a turnkey solution to have the project operational within four to six weeks of breaking ground.

Clean Energy Pathways will own the plant, which is expected to generate approximately $5.7m in revenue for the company within the first year.

Clean Energy Pathways CEO Michael Parsons said that this first solar power development is the beginning of a pipeline of such projects the company has planned for 2011.