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National Solar Power and Liberty County, Florida, have entered into a 100MW solar energy project agreement. The project, representing a US$350 million investment at full build out, is National Solar Power’s third in Florida with the others being in Gadsden and Hardee counties.
Up to five 200-acre, 20MW farm segments are planned at a cost of US$70 million each – with the potential to inject hundreds of millions of dollars in the Liberty County community. National Solar Power estimates the project will create up to 100 jobs during the five-year construction phase and up to 25 permanent operations jobs.
Once the appropriate local and state permitting process is completed, the first phase of the project is expected to be up and running within six to seven months of breaking ground. Hensel Phelps Construction, that rebuilt the Pentagon after the 9/11 attacks in 2001, will design, build and operate the Liberty County solar farm project for National Solar Power.
“Florida is ripe with opportunities to establish successful solar-energy projects. We are thoroughly impressed with the high-level of enthusiasm we’re seeing from economic development, civic and elected leaders across the state,” said National Solar Power CEO James Scrivener. “We are grateful to the Liberty County community for the warm welcome it has extended to us and stand ready to work with our new partners to build our new network of farms and begin harvesting the power of the sun.”
As part of the effort to fund its renewable energy infrastructure projects like the solar projects in Gadsden, Hardee and Liberty counties, National Solar Power recently announced the creation of Green Infrastructure Partners.
Green Infrastructure Partners offers a platform for institutions and accredited investors to participate in the transition to a renewable energy infrastructure in the United States, while enjoying competitive risk adjusted returns on their capital. The company is externally managed and advised by Solar Capital Management, a wholly owned subsidiary of National Solar Power Partners.
National Solar Power is negotiating with multiple large financial institutions and private equity investors to provide project financing. The company has entered into an agreement with Progress Energy Florida and is having discussions with other potential customers to purchase power generated by its Florida solar farm projects.
Along with the agreement with Progress Energy Florida, National Solar Power has executed power supply agreements for more than 3,000MW of solar farms in the south east of the US.
