Principal Solar Inc. will co-develop a 100-megawatt solar project with Entropy Investment Management in Cumberland County, North Carolina.
Construction of the project started last week and is expected to begin generating power before the end of 2015. PSI will continue to manage relationships needed to build the project and will oversee the achievement of critical development milestones drawing upon expertise building and connecting power generation facilities to the transmission grid.
“This agreement with affiliates of Entropy represents a significant milestone for the company,” said Michael Gorton, CEO, PSI. “We have established a relationship with a high-caliber team of solar and finance professionals at Entropy, and have positioned PSI to build additional utility scale projects with them. This is the next major step toward our goal of owning and operating gigawatts of solar electricity generation.”
