ET Solar Group Corp., a closely held Chinese panel maker, and solar developer Geenex have closed financing for a 30-megawatt project in North Carolina that they plan to sell to Duke Energy Corp. (DUK:US)
Construction of the plant has started in the former site of the Halifax County Airport and is expect to be finished this year, according to a statement today from ET Solar’s Pleasanton, California-based subsidiary. Terms of the financing weren’t disclosed.
Duke’s renewables unit will buy the plant after construction is finished, according to the statement. Dominion Resources Inc. (D:US)’s North Carolina unit has agreed to buy electricity from the solar farm under a 15-year contract.
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