Standard Solar, a company focusing on the acquisition, operation, financing, and development of community and commercial solar assets has acquired a fully operational 28.5MW solar project from funds managed and 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 at Mountain Home, Elmore County’s largest city. It has been providing energy savings for residents and businesses in the area since its inception in 2017. Idaho Power purchases the power from the system in order to provide energy to customers at a discount price. The Mountain Home system generates 54,716 MWh annually of clean energy.
“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.