Clean Energy Pathways has signed a joint venture agreement with Green Mountain Properties to develop a $28 million solar power plant in Green Mountain, NC. Under the agreement, Green Mountain will provide 40 acres of land for the facility.
Clean Energy Pathways will be lead developer, engaging ESA Renewables as co-developer to provide a turnkey solution to have the project operational within four to six weeks of breaking ground.
Clean Energy Pathways will own the plant, which is expected to generate approximately $5.7 million in revenue for the company within the first year. Company CEO J. Michael Parsons says this is the start of a series of such projects that will be a significant part of the company's future.
"This first solar power development is the beginning of a pipeline of such projects we have planned for 2011," said Parsons.
ESA Renewables has an extensive track record of fast-track development and management of solar power projects. Based in Florida, the company has developed over 400 solar power facilities in the last two years. Jeff Burkett, CEO of ESA Renewables, said that the initial Green Mountain development can be completed very quickly.
"ESA employs a technique that allows us to build a 4 megawatt solar power facility in fewer than 8 weeks after we have received permits," said Burkett.
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