US-based developer Sustainable Power Group, also known as sPower, has acquired stakes in 16 ground-mounted solar projects in North Carolina from FLS Energy.
Financial details of the deal were not disclosed. The agreement is for the acquisition of three separate solar portfolios that comprise the 16 plants, all of which achieved commercial operation in 2013 and 2014. The portfolio, named sPower FLS North Carolina Solar 1, has 15-year power-purchase agrements with Duke Energy Carolinas and Duke Energy Progress.
“A key tenet in sPower’s management philosophy is seeking out partners and projects that drive growth in the solar industry” sPower CEO, Ryan Creamer, commented. “FLS Energy is clearly amongst the most knowledgeable and successful solar energy companies on the east coast. We look forward to a long and mutually-beneficial relationship.”