Connect with us

Hi, what are you looking for?


Clean Power

Wells Fargo Investing $100 Million To Build 9 New Solar PV Projects In North Carolina

north carolina solar farm

One of the largest banks in the world, Wells Fargo, is investing $100 million of tax equity financing into nine new solar PV projects being developed by Strata Solar in North Carolina, according to recent announcements.

The projects will all be utility-scale and will sell electricity directly to the utility company Progress Energy Carolinas. Out of said projects, Strata Solar says that 3 of them will exceed 6 MW in capacity — the Bladenboro, Wagstaff and Nash 58 projects. Exact figures aren’t yet available, however.

North Carolina’s renewable energy tax credit — which is largely responsible for the growth of the industry in the state in recent years — will no doubt be utilized by all of the eligible projects involved in the investment deal.

Strata Solar’s CEO, Markus Wilhelm, commenting on the projects, stated: “These projects bring jobs, significant local spend, and an increase in the tax base without the requirement of county dollars which is typical of development projects. On a number of occasions we’ve witnessed these projects having an impact on attracting additional investors who are looking for business-friendly environments.”

In related news — as you’re no doubt well aware, the state has been hit hard this last year by a number of high-profile fossil fuel and chemical spills. The most prominent of these was the Dan River coal ash spill in February.

With all of the ongoing problems caused by such spills, it would seem as though the state may now have some extra impetus to make a faster switch to renewable energy. Of course if the fossil resources are there to be profited from and remain incentivized themselves, then there will surely be someone looking to extract/develop them.

Keep up with all the hottest solar power news here on CleanTechnica, or even subscribe to our free solar power newsletter.

Image: North Carolina solar farm via Strata Solar

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.


You May Also Like


When Toyota announced its plan in April of 2021 to introduce a full line-up of 70 electrified vehicles by 2025, with 15 BEVs, including...

Clean Transport

Vietnamese upstart VinFast is best known for its full-sized electric vehicles but the vehicles making the biggest impact are of the two-wheeled variety. VinFast...

Climate Change

Across the United States, the majority of states lack laws that require flood damages be fully disclosed to home buyers. The consequences can be financially ruinous...

Clean Power

64-panel solar array to provide 37,000 kWh annually for UNC Asheville Reuter Center CHARLOTTE, NC — Renu Energy Solutions, a locally-owned and operated solar...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.