ASHEVILLE, N.C., June 18, 2014 (GLOBE NEWSWIRE) -- FLS Energy has closed financing and begun construction on 38 megawatts of utility-scale solar farms across eight locations in North Carolina. The solar energy plants will produce approximately 56 million kilowatt hours of electricity per year or enough energy to power over 5000 average U.S. homes.
The portfolio of projects is being financed as a bundle and will be the first phase of an expected 80 megawatts to be constructed and owned by FLS Energy in 2014. Duke Energy will purchase the electricity generated by the solar energy systems through 15 year power purchase agreements.
"We are excited about bringing 38 MWs of solar energy projects online at one time, and making such progress in our mission of making solar mainstream," said Dale Freudenberger, CEO of FLS Energy. "This type of scale, unheard of just a few short years ago, would not be possible without the support and dedication of our team at FLS Energy as well as our amazing financial partners, Fifth Third Bank and Self Help Credit Union."
About FLS Energy
FLS Energy is a full service solar energy provider that owns and operates a portfolio of solar energy assets throughout the U.S. Our development team takes a project from conception to commissioning and offers complete in-house system design, engineering, construction, financing and turnkey project development. FLS Energy's mission is to make solar mainstream. We are committed to building a scalable and sustainable business model that values the contributions of each of our employees while remaining good stewards of the world in which we live. For more information on FLS Energy, please visit www.flsenergy.com
Source:FLS Energy Inc.