Strata Solar has completed nine utility-scale solar projects in North Carolina using over $100m of tax-equity financing provided by a subsidiary of Wells Fargo & Company.
The power generated from the projects will be purchased by North Carolina utility Progress Energy Carolinas and is sufficient to power 5,000 households and displace 28,000 metric tons of CO2 per year,
The power plants, three of which are at least 6MW in size, will power about 5,000 homes, Chapel Hill, North Carolina-based Strata said in a statement.
Strata Solar said that the three major projects, Bladenboro, Wagstaff and Nash 58, have a capacity of over 6MW.
The projects qualify for North Carolina’s 35% renewable-energy tax credit.
Strata Solar chief executive Markus Wilhelm said, "We are very proud of our ability to invest and build in North Carolina’s rural communities.
"These projects bring jobs, significant local spend and an increase in the tax base without the requirement of county dollars which is typical of development projects."
Wells Fargo Environmental Finance Group head Barry Neal said, "We are proud to partner with top-tier developers like Strata who share in our commitment to support communities and deploy clean energy."
Image: Strata completes nine utility-scale solar plants in North Carolina. Photo: courtesy of frankie_8 / FreeDigitalPhotos.net.