ET Solar and Geenex Building North Carolina Solar Plant for Duke

ET Solar Group Corp., a closely held Chinese panel maker, and solar developer Geenex have closed financing for a 30-megawatt project in North Carolina that they plan to sell to Duke Energy Corp. (DUK)

Construction of the plant has started in the former site of the Halifax County Airport and is expect to be finished this year, according to a statement today from ET Solar’s Pleasanton, California-based subsidiary. Terms of the financing weren’t disclosed.

Duke’s renewables unit will buy the plant after construction is finished, according to the statement. Dominion Resources Inc. (D)’s North Carolina unit has agreed to buy electricity from the solar farm under a 15-year contract.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Carlos Caminada, Robin Saponar

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