Company on pace to invest more than $85 million in solar power facility
COLUMBIA, S.C. – National Renewable Energy Corporation (NARENCO), a leading renewable energy independent power producer focused on development, engineering, procurement, construction and operations of utility scale and commercial solar installations, is on track to invest more than $85 million to establish solar power operations in Allendale County.
Established in 2009 and headquartered in Charlotte, North Carolina, NARENCO has matured into one of the largest solar developers in North America and is currently ranked No. 6 in Solar Power World’s list of the nation’s Top Solar Developers. The firm has more than 65 solar facilities in various stages of development across the Southeast, with an additional 85 megawatts under long-term operations and maintenance contracts. In South Carolina, the firm is developing another 400 megawatts and seeks to invest more than $800 million across the state over the next five years.
Expected to be operational by the end of 2017, the Allendale County facility, which is located off of River Road, will produce renewable solar energy from photovoltaic panels currently sized at 70 megawatts of alternating current (AC) in nameplate capacity, which by itself, is seven times larger than any one currently proposed Distributed Energy Resource project. One megawatt AC of solar energy is enough to provide clean energy to approximately 200 South Carolina homes.
For more information on NARENCO, visit www.narenco.com.
QUOTES
“We are excited to advance one of the first large-scale solar facilities in South Carolina and look forward to being a new member of the Allendale County community. Once constructed, our renewable solar facility will provide significant discretionary property tax income along with delivering on-peak power to serve S.C. ratepayers when they need it most. We are truly honored to partner with Allendale County and hope this facility is just the first of many such investments in the county and South Carolina at large.” –NARENCO Vice President of Development Jon Burke
“NARENCO’s investment in Allendale is another example of a company seeing the opportunities being created by Team South Carolina’s approach to creating a business-friendly environment that companies from any industry can thrive in. We’re excited to welcome NARENCO to the South Carolina family, and to celebrate its $85 million investment in our state and our people.” –Gov. Nikki Haley
“Team South Carolina works hard every day to cultivate a pro-business environment for companies of all types in our state, and this $85 million solar project is further evidence that our team-first approach is paying off. I offer my congratulations to NARENCO on their decision to establish operations in Allendale County and look forward to watching them succeed there for many years to come.” – Secretary of Commerce Bobby Hitt
“Allendale County welcomes NARENCO and their solar project to our family of alternative energy companies in our region. We appreciate the company’s investment in our county, which will assist with tax revenue to fund county services to our residents. We also appreciate this effort to provide innovative solutions to our state’s energy needs.” – Allendale County Council Chairman Mr. James Pinkney
“NARENCO’s decision to locate their solar facility in Allendale will expand our tax base while creating another green energy business here in Allendale. We thank them for their commitment to our community.” –Allendale Economic Development Commission Chairwoman Barbara Lewis
“We appreciate NARENCO’s investment in our region, and we look forward to working with the company to grow their operations in Allendale County. Renewable alternative energy sources will help diversify our energy sector while expanding the tax base in our rural areas.” –SouthernCarolina Regional Development Alliance Chairman Buddy Phillips
FIVE FAST FACTS
- National Renewable Energy Corporation (NARENCO) is establishing solar power operations in Allendale County.
- An investment of more than $85 million.
- Established in 2009, NARENCO is headquartered in Charlotte, NC.
- The Allendale County facility will be located off of River Road.
- Expected to be operational by the end of 2017, the facility will produce renewable solar energy from its 70-megawatt AC energy facility.
About NARENCO
NARENCO (National Renewable Energy Corporation) is a vertically integrated solar company leading the way in providing utilities, businesses, institutions and landowners with solar energy solutions. Our team is comprised of highly-experienced developers, as well as, LEED®, electrical, construction, engineering, and architectural professionals who are dedicated to helping our clients effectively and efficiently harness the sun's power.