New Energy Solar completes 55.6-MW US solar portfolio

Australian investment company New Energy Solar Ltd (ASX:NEW) has completed the construction of eight solar parks with a total capacity of 55.6 MW DC in the US states of North Carolina and Oregon.

The company pointed out that six out of the eight plants are already commissioned, that being Arthur, Church Road, County Home, Hanover, Heedeh and Pendleton. Organ Church in North Carolina and Bonanza in Oregon have reached mechanical completion but are yet to be fully commissioned, New Energy Solar said.

The firm acquired the eight solar assets from project developer Cypress Creek Renewables (CCR) in December 2017. CCR will now provide site operations, maintenance and monitoring services. US Bank provided tax equity financing for the projects' construction.

The eight plants are expected to produce about 80,000 MW of electricity per year, enough to supply over 6,400 homes and displace more than 61,000 tonnes of CO2 emissions, the announcement says. County Home, in particular, will sell its entire output to Duke Energy Progress under a 15-year power purchase agreement (PPA).

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