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- US utility-scale solar development company sold – 10GW portfolio
ASHEVILLE, N.C., Dec. 13, 2022 /PRNewswire/ -- Innovative Solar Systems, LLC (ISS), a national developer of utility-scale solar projects headquartered in Asheville, North Carolina (USA), with an active pipeline of 10 GW projects, is offered for immediate sale at a firm price of US$150 million. The ISS buyer has the opportunity to realize $1.7-$4.8 billion in gross profits over 3 years, by financing the construction of the company's 2.5 GW of solar projects in Texas, ERCOT, which will will have interconnection agreements and will be ready for construction within 12-18 months after closing of this acquisition. A full third-party valuation report for ISS has recently been received, which puts the current valuation of ISS at between $220 million and $328 million.
ISS has developed and sold approximately 3 GW of commercial-scale solar PV plants in its 11-year history and has built a portfolio of approximately 10 GW of solar projects. ISS is one of the largest developers of commercial-scale solar plants in the United States. ISS focuses on developing early-stage solar projects, identifying and securing key sites, engineering those projects, and obtaining final interconnection agreements from interconnection transmission providers. The ISS team also negotiates EPC agreements for the construction of the projects, as well as sourcing for investment grade power purchase agreements (PPAs). Projects in ISS's current 10 GW portfolio range from 20 MW to over 200 MW, with a focus on Texas.
Innovative Solar Systems, LLC is a well-managed, profitable commercial-scale solar project developer with a 10 GWac project pipeline spanning many key US states. Current portfolio value is estimated at $220-328 million dollars based on third-party valuation reports that the company may share with potential buyers of this acquisition. The US utility-scale solar market is robust, driven by declining costs of solar technology, demand for renewables, rising electricity prices, and new incentives related to the Reduction of Inflation Act from United States. The 2.5 GW of the ISS portfolio that is "ready to build" (RTB) in the near term in Texas represents a great opportunity for an investor with the necessary capital to invest $2.5 million in the construction of projects and make gross profits of up to $4.8 billion in a few years. For more information, visit https://innovativesolarsystemsllc.com/ .
Contact: John E Green – Delegated Counsel 1 (828)-215-9064johngreen@innovativesolarsystemsllc.com
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