Wednesday, September 28, 2016 3:28:47 PM
Shlomi Palas, CEO of Blue Sphere, says his company expects to close on that deal for a 3.2-megawatt plant within a week.
It has been a long path to get the Charlotte project started. In 2013, Blue Sphere expected to start construction after reaching a preliminary agreement for $25 million of debt and equity financing with Caterpillar Financial Services.
But making the final arrangements took too long, Palas says. Caterpillar did not understand the renewable-energy business well and that hampered the arrangement, he says.
Entropy stepped in, Palas says, and Blue Sphere was finally paired with a company that specializes in renewable-energy projects.
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