Standard Solar, a company focused on the ownership, operation, funding and development of commercial and community solar assets, 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,” says Mike Streams, Standard Solar’s chief development officer. “We are on track for 2022 to be our best year yet.”
The system is located in Mountain Home, the largest city in Elmore County, and has been providing energy savings to area residents and businesses since it became active in 2017. 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 MWh of clean energy annually.
“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,” comments Chris Kirkman, partner and head of project finance at True Green Capital Management.
With this project addition, the company’s ownership footprint now spans 21 states.