Posted October 28, 2008

Premium Lock Progress Energy, two firms partner for solar project in Western N.C.

Published: 2008-10-28 06:52:53
Updated: 2008-10-28 06:52:53

Progress Energy (NYSE: PGN) is partnering with two companies to acquire solar power than will be produced at a former landfill site in Black Mountain, N.C.

The site will produce 1 megawatt of power. Progress Energy, which has 21,000 megawatts of power capacity, is adding solar energy and other alternative energy sources under state mandate to gain more power from so-called renewables.

A typical N.C. home consumes some 14,200 kilowatt hours of power per year.

The site is expected to produce 1.6 million kilowatt hours of electricity per year.

FLS Energy, which is based in Black Mountain, will build the plant on a site owned by Evergreen Packaging. Financial terms were not disclosed.

A total of 3,288 solar panels will be built at the site, which covers seven acres. Power production is expected to begin next spring. Evergreen has leased the site to FLS for 20 years.

Progress already has contracted with two other solar projects....

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