The 37-megawatt (AC) portfolio will generate approximately 71.3 million kilowatt hours annually.
Glendale, CA (September 15, 2015) - Coronal Group LLC (Coronal) and Panasonic Eco Solutions (Panasonic) announced their newest portfolio of eight solar PV projects in North Carolina now under construction. This 37-megawatt (AC) portfolio will generate approximately 71.3 million kilowatt hours annually, which equates to taking 10,350 cars off the road or producing enough energy to power just under 4,500 average homes each year.
"The North Carolina portfolio is an important milestone," said Jonathan Jaffrey, CEO of Coronal. "These are the first projects that were originated and developed, end-to-end, using the Coronal-Panasonic platform, an innovative model we developed together that serves as a one-stop shop for renewable energy."
With these newest projects, Coronal has one of the largest portfolios in the vibrant North Carolina solar marketplace, which is representative of the continued success of the Coronal-Panasonic platform. The platform's streamlined solution simplifies projects, mitigates delivery risk, and provides an efficient, cost-effective solution for large-scale solar energy development. Panasonic is overseeing the engineering, procurement and construction, as well as the operations and maintenance of the North Carolina assets.
"The ability to develop a project soup to nuts gives our project stakeholders a lot of confidence," said Danny Van Clief, Executive Vice President of Coronal Development Services (CDS). "Whether it's a land owner, a utility, or an equipment supplier, everyone takes comfort in the fact that the same team will control the project for its full life cycle."
This new portfolio of projects is driven partly by the extensive experience gained in the state during Phase I of the work. In 2014, CDS, a division of Coronal, completed 12 solar PV projects in North Carolina, totaling 60 megawatts (AC). The annual energy production from the 2014 portfolio is approximately 123 million kilowatt hours - enough to power 7,750 homes each year.
About Coronal Group LLC
Headquartered in Glendale, Calif., with offices in New Jersey and Virginia, Coronal Group LLC is a renewable energy company that develops, owns, and operates solar projects globally, with major initiatives in the United States, Canada, Latin America, and Asia. In partnership with Panasonic, Coronal's team of industry veterans brings unparalleled experience and leadership in distributed generation, integrated community and utility-scale solar PV projects, energy-as-a-service, and battery storage.
The Coronal-Panasonic platform, a comprehensive end-to-end solution, facilitates the development and commercialization of solar PV projects from inception through the life of the asset. With more than 2.5 gigawatts of greenfield and brownfield projects in development or in the pipeline, Coronal continues to actively acquire solar PV assets in virtually any stage of development. For additional information, please visit CoronalGroup.com.
About Panasonic Enterprise Solutions Company
Panasonic Enterprise Solutions Company, a division of Panasonic Corporation of North America, develops, installs and maintains large-scale Eco Solutions and Audio-Visual Solutions for business and municipal customers. Serving customers across a wide range of industries, Panasonic Enterprise Solutions engineers custom-built applications using the latest technology, experience in end-to-end management of complex corporate projects and unparalleled onsite support services. Its Eco Solutions unit offers expertise in end-to-end solar energy projects while also delivering technological and financial solutions to the rapidly expanding commercial and industrial renewable energy markets. An industry leader in Audio-Visual Solutions, the company has installed some of the largest high-definition LED video boards in the world at many well-known sports and entertainment venues in the U.S. In Interbrand's 2014 annual "Best Global Green Brands" report, Panasonic ranked number five overall and the top electronics brand in the report. Learn more: panasonic.com/pressroom.