Innovative Solar Systems is expanding our development operations due to demand in other states.
Asheville, NC (PRWEB) November 11, 2013
Innovative Solar Systems is an Asheville based developer of utility scale solar farms. The company’s current portfolio of projects range in size from 2MW to 100MW and ISS is currently in negotiations on a 4000 acre project in Texas. The company has recently made the choice to expand into several strategic states offering great incentives and purchase power agreement rates. ISS has offered its developer services to others over the last year on a case by case flat fee basis and that has driven the need to expand the development arm of the company into states where financial returns on these deals work the best.
It has been the experience of ISS that Institutional size investors and owner operators desire the larger size projects due to reductions in soft costs and being able to install the projects at a much lower price per watt. The 35MW to 100MW North Carolina solar farm projects in ISS's portfolio are being offered to buyers for approximately $1.30/watt installed and commissioned. At these low installed costs ISS also uses tier one bankable modules, inverters and racking equipment which make these deals much more attractive to equity funds and groups. Once partnered with large equity funds or groups ISS can also place the NC Tax Credits to sweeten the financials and make these deals even more attractive.
Many equity groups and OEM’s are currently partnering up with ISS on the front end on these large projects so that they have an 50% financial membership interest in the given project that also yields them a higher return once the shovel ready project is either sold off or built out. Groups seeking large scale solar farm projects in either NC or other states that would like to be a partner on these larger and more desirable projects should start a dialogue with ISS today. With dozens of large projects in various levels of development ISS has become the gold standard for solar farm projects in North Carolina and in the United States. These partnerships can yield entities the better solar projects at a lower cost of overall ownership.