US PV Developer acquired 84MW portfolio

Standard Solar will begin construction of the 14 sites this year which are all located in Illinois

US developer Standard Solar has completed the acquisition of an 84MW solar portfolio situated in Illinois. The company stated that the collective capacity of these 14 projects will play a significant role in advancing the state's renewable energy objectives, aiming for 100% clean energy by 2050. The portfolio encompasses three sets of community solar gardens in Illinois, comprising six sites with a total capacity of approximately 47MW, four plants totaling 12MW, and four arrays representing 25MW. Construction is slated to commence in 2024, with the majority of the projects expected to conclude by the end of the year.

Standard Solar finalized the acquisition of this significant portfolio from developer New Leaf Energy. Mike Streams, Chief Development Officer at Standard Solar, commented on the achievement, stating that closing on this substantial portfolio showcases Standard Solar’s proficiency in navigating a challenging economic landscape. Streams further emphasized the smooth collaboration with New Leaf Energy, attributing it to dedicated transaction teams on both ends. He highlighted the shared goals between the two entities and expressed anticipation for future successful ventures together. Standard Solar's community solar initiatives bring forth various advantages to local communities, including employment opportunities, reduced energy expenses for participants, and heightened accessibility to clean energy alternatives. This acquisition adds to the collaboration between Standard Solar and New Leaf Energy, marking their commitment to fostering positive environmental change through 20 projects across three states.