Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTStandard Solar buys 28.5-MW solar park in Idaho
Solar modules. Featured Image: Jackiso/Shutterstock.com
January 17 (Renewables Now) - US solar developer Standard Solar Inc last week announced it has acquired a 28.5-MW photovoltaic (PV) park in Idaho from funds managed by True Green Capital Management.
The value of the purchase remained under wraps.
The acquisition concerns a solar farm in the city of Mountain Home, Elmore County, which has been generating power since 2017. The plant’s output of roughly 54,716 MWh per year, is sold to electric utility Idaho Power.
“We are actively pursuing growth opportunities through acquisition of existing and operating solar projects [..],” said Mike Streams, Standard Solar’s chief development officer. “We are on track for 2022 to be our best year yet,” he added.
The deal is Standard Solar’s first transaction in Idaho and its largest one to date, the company noted. The Rockville, Maryland-based company recently took possession of more than 15 MW of solar projects in Maine and Oregon and now owns assets in 21 states totalling over 250 MW.
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