Progress Energy to buy power from Laurinburg solar farm
RALEIGH, N.C. — Progress Energy (NYSE: PGN) Carolinas has signed an agreement with a California company to buy electricity from a 2.3-megawatt solar farm in Laurinburg that the firm plans to build.
The proposed solar photovoltaic array is expected to come online within the next six months, officials said.
MP2 Capital, a renewable energy financing firm based in San Francisco, is developing the project with groSolar, a national solar installer and distributor, and local development partner Birdseye Renewable Energy in Charlotte.
The project, which must still be approved by the Laurinburg Planning Board and City Council, will be the sixth and largest solar array project planned by Progress Energy Carolinas, bringing the total amount of solar-generated electricity scheduled to be purchased by the company to more than 7 megawatts. A final location for the array has not yet been decided.
"We are committed to aggressively and responsibly pursuing renewable energy resources as part of a balanced approach to meeting our region's growing energy demand,” Lloyd Yates, president and chief executive of Progress Energy Carolinas, said in a statement. "This project will be the largest solar power array on our system and is a significant addition to our growing portfolio of renewable energy projects.”
MP2 Capital develops, finances and invests in renewable energy projects worldwide, and anticipates creating jobs for 30 to 50 workers in North Carolina during the construction phase of the solar array.
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