Partnership expands with 1.8 GW solar portfolio deal
Building on a foundation of 90 MW of solar farms developed in the past 12 months, developer Innovative Solar Systems and international energy conglomerate VivoPower will develop projects across the country together.
April 18, 2017 Frank Andorka
Installations
Utility-scale PV
North America
United States
Traditionally, you have to crawl before you walk, and then walk before you run. VivoPower International and Innovative Solar Systems (ISS) announced today they’d decided to skip the middle step.
From two projects totaling 90 MW of capacity in North Carolina last year, the partnership between VivoPower and ISS has expanded to include joint development of a 1.8 GW portfolio of projects throughout the United States. Details on the number of projects were not available, but the projects are utility-scale in size, given that ground-mounted utility projects are ISS’ specialty.
Under the agreement, ISS will continue its development of the portfolio, with VivoPower having the right to purchase completed projects. In addition, VivoPower will handle designing, financing and constructing each project.
“We are excited to secure a high quality portfolio of solar projects,” said Philip Comberg, CEO of VivoPower International. “We are also pleased to expand our successful relationship with Innovative Solar. They have assembled an attractive, diversified pipeline of solar projects, and this initiative establishes a strong foundation of future growth and profitability for our company.”
ISS says after the two projects last year, further collaboration between the two companies was inevitable.
“We are enthusiastic about our joint venture with VivoPower,” said John Green, co-founder of Innovative Solar. “We have had great success with their team in the past, and their collaborative approach fits our culture very well.”
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