Sol Systems-backed JV finishes purchase of 20 North Carolina solar projects
- A joint venture in between Sol Systems as well as economic solutions strong Nationwide has actually completed the purchase of 148MW of US solar properties from Cypress Creek Renewables.
Helios Infrastructure has actually gotten the portfolio of 20 solar projects situated in North Carolina, 97MW of which are operational and also 51MW are unfinished. The biggest project in the profile is Ruff, a 32MW solar site that went online last month.
In June 2018, Helios formed an arrangement to acquire the profile of utility-scale solar projects under advancement by Cypress Creek. Since then, the joint venture has bought and shut funding on the projects on a moving basis. Sale of the last 25MW in the profile was completed on 31 July 2020.
Upon conclusion, Cypress Creek O&M Services will certainly give operations and maintenance for all 20 projects.
"We value our partnership with Nationwide, as well as the opportunity to improve a long history of successful deals with the Cypress Creek team, beginning with tax equity financial investments in 2015 and finishing in the completion of this master purchase," stated Jessica Robbins, elderly director, structured money, Sol Systems.
Given that 2012, Nationwide and also Sol Systems have actually financed more than US$ 700 numerous solar projects in the United States. The profile is mainly made up of utility-scale assets offering power to utilities, community consumers as well as universities. Helios leverages the source, underwriting and also asset monitoring sources both business have established.