Pine Gate Renewables announced the financing of its second project in Stanly County, North Carolina, which will generate 69.89 MW of renewable energy for the community of Albemarle. Stanly Solar is currently under construction and once operational, will provide enough energy to power approximately 15,500 homes annually through a 20-year PPA that was awarded in the Competitive Procurement of Renewable Energy (CPRE) program with Duke Energy Carolinas.
Pine Gate’s partner company Blue Ridge Power will build the project.
“In addition to generating clean energy, Stanly Solar will provide construction jobs to dozens of workers, infuse money into local businesses and provide tax revenue to the town of Albemarle,” said Ben Catt, CEO of Pine Gate Renewables. “We’re excited to secure yet another significant solar project in our home state.”
Stanly is one of Pine Gate’s 15 solar projects currently under construction in North Carolina, representing 300 MW of clean energy that will be added to the grid once complete. It is expected to be online by the end of the year.
