Company to invest $89.1 million in solar power facilities
ORANGEBURG, S.C. – January 5, 2017 – 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 $90 million to establish solar power operations in Orangeburg County.
Headquartered in Charlotte, North Carolina, NARENCO was established in 2009. It has since become 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 company’s services include greenfield development, commercial & industrial development, operations & maintenance services, financing, and asset management. NARENCE constructed nearly 50 megawatts in 2015, operates more than 100 megawatts in the Southeast, and has nearly 1,300 megawatts of projects in their development pipeline.
The firm has purchased more than 600 acres of land with plans to develop two separate locations: Magnolia Solar and Peony Solar. These projects have the potential to service two utility companies — Santee Cooper and SCE&G — producing approximately 100 megawatts total. One megawatt AC of solar energy is enough to provide clean energy to approximately 200 South Carolina homes.
Project construction will create more than 100 temporary construction jobs over a 6 to 8 month period with plans to be fully operational late 2017 or early 2018.
For more information on NARENCO, visit www.narenco.com.
“We are excited to advance two of the largest solar projects in South Carolina and look forward to being a contributing member of the Orangeburg County business community. Once constructed, NARENCO’s solar facilities will provide significant discretionary tax income to the local community and will deliver clean, cost -competitive, on-peak power to South Carolina ratepayers. We would like to thank South Carolina Electric & Gas and the South Carolina Public Service Authority for their willingness to work with us to make these projects successful. We are truly honored to partner with the State of South Carolina and Orangeburg County on these projects and we look forward to making additional infrastructure investments in the state in the near future.” – Jesse Montgomery, President of Development, NARENCO
“It is indeed a great day in Orangeburg County! We welcome one of the top solar companies in the Southeast. NARENCO has proven to be a dynamic and diversified company that is committed to both the community and the environment. Their decision to locate in Orangeburg County once again validates our superb location and robust utility network. We are truly grateful for their investment and commitment to sustainable alternative energy.“ – Johnnie Wright Sr., Chairman, Orangeburg County Council
“This is a significant investment for the County. This impact on western Orangeburg County will create a foundation for the future in alternative energy. We are building a brighter future for our citizens.” – Harold Young, Administrator, Orangeburg County
“Our thanks goes out to the Orangeburg County leadership for their continued efforts and vision to make our community a significant leader in manufacturing, distribution, and now solar energy in South Carolina. NARENCO’s potential to provide clean energy to roughly 20,000 homes is a big deal for Orangeburg County. We look forward to reducing the carbon footprint on our community with cutting-edge technology.” – Kenneth Middleton, Chairman, Orangeburg County Development Commission