ROCKVILLE, Maryland, January 11, 2022– (COMMERCIAL THREAD) –Standard solar, a leader in the ownership, operation, financing and development of commercial and community solar assets, today announced the acquisition of a fully operational 28.5 megawatt (MW) solar project from Fonds managed by True management of green capital. The acquisition, the company’s first in Idaho and one of the largest to date, underscores the significant growth and leadership of Standard Solar.
“We are actively seeking growth opportunities through the acquisition of existing and operating solar projects and the addition of the Mountain Home project to our asset base is a significant milestone for Standard Solar,” said Mike Streams, Director of Development for Standard Solar. “We are on track to make 2022 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 effectiveness of our investment strategy,” said Chris Kirkman, partner and project finance manager at True Green Capital Management.
The system is located in Mountain Home, the largest town in Elmore County, and has been saving energy for area residents and businesses since it became active in 2017. Idaho Power purchases the electricity produced by the system to provide energy to its customers at a reduced price. The Mountain Home system produces 54,716 megawatt hours of clean energy per year, enough to offset more than 4.3 million gallons of gasoline consumed and the charging of 4.7 million smartphones.
This announcement follows recent acquisitions by Standard Solar of portfolios of solar projects in Maine and Oregon totaling more than 15 MW. With this addition of the project, the company’s ownership footprint now spans 21 states.
Standard Solar was recently listed as the fifth largest owner of commercial solar power portfolio by Mackenzie Wood, a leading energy research and consultancy group.
KeyBanc Capital Markets represented True Green Capital Management in connection with this transaction.
About standard solar power
Standard Solar is fueling the country’s energy transformation by channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar energy, as well as solar energy + storage, to businesses, institutions, operations agriculture, governments, communities and utilities. Backed by 17 years of sustainable growth and internal and fiscal private equity, Standard Solar is a national leader in the development, financing and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate and significant resources, the company owns and operates over 250 megawatts of solar power across the United States. Standard Solar is based in Rockville, Maryland. For more information, see standardsolar.com, LinkedIn and Twitter: @StandardSolar.
About True Green Capital Management LLC
True Green Capital Management LLC (“TGC”) is a private equity firm specializing in renewable energy infrastructure based in Westport, Connecticut. Having developed the capabilities of an operating company focused on renewable energy, TGC has raised four private equity funds and invested in solar power generation portfolios in fourteen US states providing clean and renewable energy. The company was founded in July 2011 and is led by a team of proven investment professionals with a demonstrated ability to create, finance, build and operate distributed renewable energy production projects.
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