X-ELIO Acquires 103MW Solar PV Project from NARENCO

X-ELIO, headquartered in Madrid, Spain, has acquired the Lily Solar LLC photovoltaic project from Charlotte, North Carolina-based, US National Renewable Energy Corporation.
X-ELIO Acquires 103MW Solar PV Project from NARENCO
Another solar project under construction in South Carolina (NARENCO)

The 103-MW park is located on a 640 acre site in Allendale County, South Carolina. NARENCO will continue to participate in the project through the development of engineering, procurement and construction (EPC) functions. In addition, it will be a provider of operations and maintenance.

Lily Solar is currently under construction and it is expected to start delivering power by the end of 2019, under a 20-year Power Purchase Agreement with South Carolina Electricity and Gas. X-Elio is arranging the tax equity and construction financing with undisclosed entities.

Jorge Barredo, CEO of X-Elio said, “This acquisition is another step in our ambitious growth strategy in the US, one of the key markets of X-Elio, and we are delighted to have established this relationship with NARENCO. They have done outstanding work during development, and we are confident that they will keep exceeding expectations during the construction and operation phases.”

Jesse Montgomery, President of Development at NARENCO, added, “We are excited about the opportunity to partner with X-ELIO and their skilled team in order to deliver a completed project that will be one of the largest solar installations in the Southeast.”

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