Ecoplexus, Inc. Commences Construction On Three North Carolina Projects Totaling 21 MW

San Francisco, CA /PRNewswire/ - Ecoplexus, Inc. today announced that it has closed financing and commenced construction on three solar photovoltaic (PV) projects totaling 21 megawatts (MW), representing approximately $40 million in project costs. The projects have signed long-term power purchase agreements contracts with Duke Energy Progress and are expected to achieve commercial operations in 2014.

The three projects (Langley PV1, Carter PV1, and Pecan PV1) are the first Ecoplexus projects in North Carolina to commence construction. Over the last two and half years, the Company has developed a pipeline of 30 additional projects in North Carolinarepresenting over 300MW, which it expects to construct in 2015 and 2016.

"After constructing 40 solar PV projects in other States, it's exciting for Ecoplexus to break ground on the first projects in our North Carolina portfolio," said Erik Stuebe, President of Ecoplexus. "We are planning an aggressive construction schedule in North Carolinaand we expect to construct and commission approximately 40 MW per calendar quarter over the next two years. We're very pleased to play a role in providing clean, renewable energy at competitive rates to the grid."

Stuebe added that the projects will help lock-in low long-term energy rates for North Carolina consumers and provide a hedge against rate increases from natural gas and other fossil fuel sources. When fully operational, the 3 projects will provide clean energy for an average of 1,425 homes in North Carolina and an annual reduction of 24,263 tons of Carbon Dioxide, which is equivalent to the reduction of 2.5 million gallons of gasoline consumed.

About Ecoplexus, Inc.
Ecoplexus develops and operates distributed generation solar PV projects for the wholesale and retail distributed generation markets in the U.S. and Japan. The Company has constructed and financed over 40 projects to date, representing over $100 million in project value. Customers include eight major utilities including PG&E, Duke, Progress, Xcel Energy, and Georgia Power and approximately 15 municipalities.

The Company's project pipeline exceeds 500 MW, and represents approximately $1 Billion in project value, in the U.S. and Japan. The Company also provides operation and maintenance (O&M) services for investor/owners, including two Fortune 500 companies, for approximately 40 projects. For more information about Ecoplexus, please visit www.ecoplexus.com.