Stateside Group obtains funds for 32.5 MW of US solar projects
Oct 21, 2013 - US firm Churchill Stateside Group LLC said Friday it had closed a USD 34.3-million (EUR 25m) North Carolina state renewables tax credit fund that will be used for the construction of 32.5 MW of solar parks in North Carolina.
The real estate and financial services provider said the Churchill Stateside NC Tax Credit Fund has been placed by affiliate broker dealer Churchill Stateside Securities LLC.
The solar parks, which will be financed via the fund and other sources, will include ground-mounted utility-scale installations, each one covering about 40 acres (16 ha). The photovoltaic (PV) systems will feature about 135,000 solar panels in total. When up and running, they are estimated to produce more than 47,000 MWh of power each year, enough to supply 5,200 households and save over 31,000 tonnes of carbon dioxide (CO2) emissions.
During the construction phase, the project will open 350 jobs in North Carolina.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.