Standard Solar, a Rockville-based company involved in the ownership, operation, funding and development of commercial and community solar assets, on Tuesday announced it has acquired a fully operational 28.5 megawatt (MW) solar project from funds managed by True Green Capital Management.
The acquisition, the company’s first in Idaho and one of its largest to date, is located in Mountain Home, Idaho, 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 megawatt hours of clean energy annually, enough to offset over 4.3 million gallons of gasoline consumed and the charging of 4.7 million smartphones.
This announcement follows Standard Solar’s recent acquisitions of solar project portfolios in Maine and Oregon totaling more than 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.