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Strata Completes Nine North Carolina Solar Plants

May 1 (Bloomberg) -- Strata Solar LLC, a closely held U.S. developer, completed nine utility-scale solar projects in North Carolina using more than $100 million in tax equity provided by Wells Fargo & Co.

The power plants, three of which are at least 6 megawatts in size, will power about 5,000 homes, Chapel Hill, North Carolina-based Strata said today in a statement. The projects qualify for the state’s 35 percent renewable-energy tax credit.

Progress Energy Carolinas Inc. has agreed to buy the power under a long-term contract.

Blair Schooff, a Strata spokesman, didn’t immediately return phone and e-mail messages seeking additional comment.

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 Jasmina Kelemen, Stephen Cunningham

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