National Solar Power and Hardee County, Florida, have advised that with the signing of a developer agreement, National Solar Power plans to build a 200MW solar farm in the county. The project is said to have a US$700 million price tag and will be the company’s second solar farm. While the Hardee County Commission recently approved the agreement, the local and state permitting process is still pending.
National Solar Power additionally revealed that it had created Green Infrastructure Partners, which will help fund renewable energy infrastructure projects like the solar farm in Hardee County. The company is externally managed and advised by Solar Capital Management, a wholly owned subsidiary of National Solar Power Partners.
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The 200MW solar farm will consist of ten 200-acre farms, each costing US$70 million. Once permitting is completed, the company plans to have the first phase of the project completed within six to seven months of breaking ground. Hensel Phelps Construction will design, build and operate the Hardee County solar farm, which will include a visitor center and educational program.
“Florida is the new frontier when it comes to solar farm development. We are excited about the opportunity to establish a utility-scale solar farm in Hardee County and the creation of Green Infrastructure Partners,” said National Solar Power CEO James Scrivener. “With its ample property available, easy access to the electric grid and nearby population centers, the Hardee County community is a prime location to put solar energy in the region’s power mix. We are pleased to be working in partnership with the county and its economic development team in this venture to tap the power of the sun.”
The company advised that it is currently in talks with several large financial institutions and private equity investors in order to secure project financing. National Solar Power has already entered into an agreement with Progress Energy Florida and is also discussing the possibility of purchasing power from the solar farm with other potential customers.