North Carolina-based PV developer O2 energies has commenced construction of the Sandy Cross Solar project, a 1.5MW PV project in Elm City, Colorado. Seminole Financial Services granted a loan of US$2.5 million to O2 energies for the construction of the plant on the site of an already existing, three-phase power line. The installation is expected to be completed by late spring 2012.
Robert Banks, CEO of the Seminole companies, commented on the partnership with O2 energies: “We are very pleased to announce the closing of the Sandy Cross Solar Project and our partnership with O2 energies. This project reinforces Seminole Financial Services’ continued commitment in the renewable energy financing market for solar transactions over 500kW.”