NDR Energy inks agreement to build $167m solar project in North Carolina, US

US-based energy company NDR Energy Group has inked a memorandum of agreement (MOA) with JSG Solar to build a $167m solar power farm in the US state of North Carolina.

The 100MW solar facility, which is planned to be built on 425 acres of land, is estimated to generate 143.9 kWh. It is expected to add revenue of $301m over 25 years.

NDR Energy Group president Ken Harris stated that the project is complex and stimulating for the company for which it received FERC license few months ago and commenced exploring potential verticals.

“Simultaneously, we developed a relationship with an investment fund in Ireland that represented a solar company that was working on projects in North Carolina. Our state, of course, has very favorable tax credits and incentives for solar projects,” added Harris.

Meanwhile, the company has secured 25-year long Power Purchase Agreement (PPA) with a large North Carolina utility.