Principal Solar to build 100MW solar project in Cumberland County

Principal Solar (PSI) has announced the development of Entropy Investment Management’s 100MW facility located in Cumberland County, North Carolina.

The facility will be capable of powering 20,000 average US homes and the construction has already begun for the project which is expected to generate power before the end of 2015.

PSI will continue to have a major role in completing the project’s development phase. It already sold its interest in the project to affiliates of Entropy.

The company will oversee the achievement of critical development phase.

PSI CEO Michael Gorton said: "This agreement with affiliates of Entropy represents a significant milestone for the Company.

"We have established a relationship with a high-caliber team of solar and finance professionals at Entropy, and have positioned PSI to build additional utility scale projects with them. This is the next major step toward our goal of owning and operating gigawatts of solar electricity generation."

Entropy.managing partner Lewis Reynolds "PSI’s team has done a great job of getting this project ready to build.

"The team’s expertise will continue to be pivotal to completion on our accelerated schedule. PSI has demonstrated a commitment to seeing this project through and at the same time is positioning itself to leverage the success of this project for its own future growth."