Principal Solar, which last month cancelled plans for an initial public offering on the NASDAQ exchange, now reports that it is partnering with Entropy Investments to build a 100 MW solar PV project in Cumberland County, North Carolina.
Principal Solar has sold its interest in the project to affiliates of Entropy, but says that it will continue to manage important relationships to get the plant built. The company also says that it plans to work with Entropy to build future utility-scale projects.
Construction began on the plant the week of August 17, and the companies expect to commission the plant before the end of 2015. Alpha Energy from Washington state has been named as the engineering, procurement and construction contractor.
North Carolina was the second-largest solar market in the United States during 2014, after California. However, a boom in utility-scale projects in the state is expected to be short-lived. North Carolina recently extended its solar tax credit until the end of 2016, but with a hefty application fee and a requirement that projects are under partial construction by the end of 2015.
Correction: An earlier version of this story stated that the EPC contractor was unknown. Principal Solar announced in a release dated May 21 it had contracted with Alpha Energy of Bellingham, Washington to be its engineering, procurement and construction partner on the project.