Innovative Solar Systems LLC (ISS), one of the largest developers of utility scale solar PV systems in the country, has been hyping a capital raise this year to really ramp up its solar farm project pipelines. Well, post-ITC extension this is ramping up even more.
John E. Green, CEO for ISS, says the company will further increase its capital raise. With close to 2 GW of solar farm projects in its pipeline, ISS plans to expand to over 5 GW in the next 24-36 months. With the extension of the ITC, ISS intends to focus on taking more solar farm projects to COD.
ISS has had an extensive track record in states like North Carolina where the company currently has several large solar farms under construction: (1) 75 MW(AC) project, (2) 80 MW(AC) projects, several 50 MW(AC), 40 MW(AC), 35 MW(AC) and many 2 MW(AC) and 5 MW(AC) deals in N.C.
To take these new projects through later stages of development, ISS will partner with an investor to raise the capital needed for such expansion. That will allow ISS to expand to many more states and take its large pipeline of projects through completion and final commissioning. The partner will have full preferential access to the pipeline of projects, and will be provided an attractive return rate over the period of their investment.