This project is reflective of the current solar farm boom in North Carolina.
(CHARLOTTE, N.C.) June 26, 2015 - Carolina CAT Power Systems, the leading provider of service, parts and sales of power generation equipment, is completing the final stages of construction for a new 10-acre solar farm in Shelby, N.C. Scheduled to open in late June 2015, the site will contain 9,828 panels and produce 3MW DC of electricity, enough to power approximately 250 homes, which will be procured by Duke Energy and added back to the North Carolina power grid.
"We are thrilled to be a part of the renewable energy movement, especially when it's in our own backyard," said Edward Weisiger, Jr., CEO of Carolina CAT Power Systems, a CTE company. Ed continues, "We've had the privilege of serving the equipment needs of the Carolinas for over 85 years, and this project marks our continued service in the construction, utility and road building industries. Shelby and Cleveland County have been a key part of our success over the years and we are very pleased to be invested there."
Carolina CAT Power Systems worked closely with local and national organizations to make this green energy initiative happen. Since project inception, Syncarpha Capital has supported Carolina CAT Power Systems across the project lifecycle, from acquisition, to financing and development, to commercialization. Yingli Solar provided the solar panels, WB Moore built the electrical systems, and Gehrlicher Solar America Corporation supported with contracting services. Carolina CAT Rental Store supported the project by providing Caterpillar construction equipment to grade and prepare the land for installation. The group worked with Shelby-based Dicey Mills to get trees cleared, thus reducing shade on the panels and ensuring higher site production. The North Carolina Department of Environmental and Natural Resources as well as the City of Shelby helped with planning, permitting and zoning. Power Products & Solutions will manage the system maintenance. Syncarpha will operate and provide asset management services for the life of the project.
This project is reflective of the current solar farm boom in North Carolina. The state ranks third in the nation with respect to the amount of solar power on the state's grid. This is due in part to a state law mandating that, by the year 2020, one eighth of all power produced by Duke Energy must come from renewable energy.
"We are proud to be part of this green initiative - by using renewable energy, reducing waste and preserving our natural resources, we are helping to protect our planet, now and for generations to come. Being good stewards of the beautiful planet on which we all live and work is crucial," said Mike Brown, Carolina CAT Power Systems General Manager.
"We look forward to continuing to work closely with Carolina CAT in the commercialization, operation, and management of this project," said Syncarpha Capital Managing Partner and Founder Cliff Chapman.
About Carolina CAT Power Systems
Carolina CAT Power Systems is a recognized leader of distributed power for a wide range of industries. We carry Caterpillar diesel and natural gas generators, new and used, as well as methane gas applications, Automatic Transfer Switches, UPS systems and Paralleling Switchgear. Our rental fleet is one of the largest in the region, with additional options like compressed air and temperature control. Product Support is second to none, with 24/7/365 availability and fast response time. To learn more about Carolina CAT Power Systems, please visit: http://www.carolinacat.com/power-systems
Founded on honesty, hard work and family commitment, CTE was established in 1926 providing superior equipment, parts, and service to help build North Carolina and on into the Southeast. Headquartered in Charlotte, NC, the CTE family of companies includes: Carolina CAT, Carolina CAT Power Systems, LiftOne and Pinnacle Cranes. In addition to offering a full line of construction, forestry and paving products, CTE offers expanded lines of materials handling equipment, engineered systems, mobile cranes, truck engines and power generation systems. CTE's vision is to be a high performing dealer and their customers' trusted partner. To learn more about CTE, please visit: www.cte1926.com
About Syncarpha Capital
Syncarpha Capital is a New York based private equity firm dedicated to developing, owning and operating commercial and utility scale photovoltaic (PV) solar energy systems throughout the United States and Canada. Partnering with experienced solar developers, installers, engineers, and EPC contractors. To learn more about Syncarpha, please visit: www.syncarpha.com.