August 27, 2014 - HelioSage Energy has announced the sale of a 77MWdc/ 60MWac portfolio of development-stage solar facilities in North Carolina. The portfolio is comprised of 12 ground-mounted solar projects sited in eastern North Carolina. Once constructed, the projects will sell power under a Power Purchase Agreement with either Duke Energy-Progress or the North Carolina Eastern Municipal Power Agency (NCEMPA).
"This is a major milestone for HelioSage Energy," said CEO Chris Walmsley. "As a greenfield development firm specializing in originating projects and delivering those assets to strategic buyers and owners, a transaction such as this is a meaningful accomplishment, and a validation of our business model. It's also emblematic of the value we seek to create for our partners in these projects, including land owners, utilities, investors, and the solar supply chain."
The portfolio is comprised of projects originated, sited, designed, and permitted by HelioSage. The company also secured Power Purchase Agreements for each of the projects, utilizing standard contracts made available to qualifying facilities by both Duke Energy-Progress and NCEMPA. In aggregate, the portfolio is expected to generate an estimated 100 million kilowatt-hours annually - enough energy to power more than 6,200 homes a year.
All 12 facilities will be placed in service this year, with five currently under construction. The company also announced it is developing a second, similarly sized portfolio, which will transact and construct before the end of 2015. "It is gratifying to see the first HelioSage portfolio in North Carolina progress to construction phase, with a follow up portfolio right behind it," said Mr. Walmsley. "2014 has been an exciting year for our firm and North Carolina has been an important part of the story."