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510nano Signs Power Purchase Agreement for 1.4 MW Solar Farm
510nano, Inc., a renewable energy provider, entered into a 15 year Power Purchase Agreement with Dominion NC Power for a 1.4 MW photovoltaic solar farm. 510nano and its partners will build and operate the farm, which is located in northeastern NC.
By: 510nano, Inc.
“510 REPP One is the company’s first installation in North Carolina,” said Dr. Reginald Parker, President of 510nano. “North Carolina has several geographic and regulatory advantages that make it an attractive place for us to develop renewable energy power plants (REPPs). We are excited about the opportunity to build roots in Northampton County, and have enjoyed a partnership with the County Executive and Commissioners that has been highly supportive of this effort.”
Project Director, Valjeanne Estes explains, “510nano will own and operate 510 REPP One, and sell the entire electrical output to Dominion. We estimate that the farm will generate over 1.8 million kilowatt-hours (kWh) annually of renewable electricity meeting the yearly energy needs of up to 160 households.”
The project anticipates providing over 30 construction and permanent jobs. 510 REPP One is located at the Northampton County Commerce Park in Gaston, NC, just 7 miles south of the Virginia border. Construction of the solar farm is expected to start by March 2011. The project partners are Midflare Corporation, Sun Space, Ltd., Fresco Solar, Solectria Renewables, SunPerfect Solar and Aries Power and Industrial Company.
510nano, Inc., is a Washington DC-based technology and business development firm. Founded in 2005, the company specializes in developing and deploying renewable energy solutions. With a global network of renewable energy partners, leading-edge technology products, and experienced management team, 510nano has positioned itself as a leader in supplying efficient, cost-effective power plants.