Standard Solar has acquired a fully operational 28.5 MW solar project from funds managed by True Green Capital Management. The acquisition is the company’s first in Idaho and one of its largest to date.
“We are actively pursuing growth opportunities through acquisition of existing and operating solar projects and adding the Mountain Home project to our asset base is a significant milestone for Standard Solar,” said Mike Streams, Standard Solar’s Chief Development Officer. “We are on track for 2022 to be our best year yet.”
“Following the sale of 79 MW in August 2021, this transaction completes the successful exit of our first and second funds, demonstrating the efficacy of our investment strategy,” said Chris Kirkman, Partner and Head of Project Finance at True Green Capital Management.
Since it’s activation in 2017, the system has been providing energy savings to Elmore County’s largest city, Mountain Home. Idaho Power purchases the power generated from the system to provide energy to its customers at a discounted price. The Mountain Home system produces 54,716 MW hours of clean energy annually.
This announcement follows Standard Solar’s recent acquisitions of solar project portfolios in Maine and Oregon totaling over 15 MW. With this project addition, the company’s ownership footprint now spans 21 states.
Standard Solar was recently listed as the fifth largest portfolio owner of commercial solar by Wood Mackenzie, a leading energy research and consultancy group.
KeyBanc Capital Markets represented True Green Capital Management in connection with this transaction.
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