Conergy and Holocene close financing for 28MW of Solar Projects

Conergy and its joint venture partner Holocene Clean Energy have closed financing for a portfolio of solar projects in North Carolina that have a total capacity of 28 megawatts.

Conergy and Holocene arranged federal and state tax equity investments from two US banks and provided development and sponsor equity capital. The portfolio of projects is valued at US$60 million.

Conergy and Holocene collaborated on a financing with Conergy providing engineering, procurement, construction services for the projects. The projects are located across five locations in Eastern North Carolina. Construction began in February and will be completed within this year.

Duke Energy will purchase electricity from the projects under a 15-year power-purchase agreement. Conergy, which recently raised US$45 million in equity funding from a group of investors lead by Germany utility RWE, said its focus is on growing its US market share following the transaction.

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