Innovative Solar Systems (ISS) has obtained construction financing for more than 200 MW of already approved and construction ready solar farms in North Carolina.
ISS CEO John Green said construction would start almost immediately on the projects. The leading North Carolina-based solar farm project developer is now seeking credit-worthy entities willing to sign letters of intent (LOI) to buy and own the projects.
According to Green, experience has shown that investors and buyers of large-scale solar farms prefer to purchase projects once theyre built rather than assuming all of the risk and financing on the front end, so the company is confident that buyers will step forward quickly to sign LOIs.
ISS is offering clients projects of 20 MW and larger that can be purchased at cash on delivery (COD) with nothing upfront except an LOI indicating intent to purchase a given project at a given price once the project is completed and ready for commissioning.
Wealth management, hedge funds, equity groups and private as well as institutional size investors seem to be more able and willing to purchase large solar farm projects when all of the guess work is taken out of the transaction and the purchase is being made at COD and at a not to exceed price, ISS said.