X-ELIO acquires the Lily Solar LLC project from the US National Renewable Energy Corporation (NARENCO)
The photovoltaic plant has an installed capacity of 103MW on a 640 acre site located in Allendale County, South Carolina
The project is currently under construction and is expected to deliver power by the end of 2019
Madrid / Charlotte, Carolina del Norte, 25 of October, 2018 – X-ELIO, the leading global developer of photovoltaic solar energy with presence in five continents, announces today the acquisition of the Lily Solar LLC photovoltaic project from the US National Renewable Energy Corporation (NARENCO). It is a 103MW park on a 640 acre site located in Allendale County, South Carolina. NARENCO will continue to participate in the project through the development of engineering, procurement and construction (EPC) functions. In addition, it will be a provider of operations and maintenance.
Lily Solar is currently under construction and it is expected to start delivering power by the end of 2019, under a 20-year Power Purchase Agreement (PPA) with the US group South Carolina Electricity and Gas (SCE & G). X-Elio is arranging the tax equity and construction financing with undisclosed entities.
“This acquisition is another step in our ambitious growth strategy in the US, one of the key markets of X-Elio, and we are delighted to have established this relationship with NARENCO. They have done outstanding work during development, and we are confident that they will keep exceeding expectations during the construction and operation phases.”Jorge Barredo, CEO of X-ELIO
“We are excited about the opportunity to partner with X-Elio and their skilled team in order to deliver a completed project that will be one of the largest solar installations in the Southeast U.S.”Jesse Montgomery, President of Development at NARENCO
“We look forward to working closely with X-Elio’s team of experienced engineering and construction professionals as we continue our engineering efforts and transition to the construction and operational phases of the project.”Andrew Giraldo, President of EPC at NARENCO