Rockville’s Standard Solar acquires community solar portfolio in Illinois

Daily Record Staff//February 12, 2024//

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Standard Solar, a Rockville-based commercial and community solar developer and asset owner, Monday announced the acquisition of an 84-megawatt community solar portfolio in Illinois.

Terms of the deal were not disclosed.

The combined capacity of these 14 projects will significantly contribute to Illinois’ renewable energy generation goals of 100% clean energy by 2050, reducing greenhouse gas emissions and advancing a more sustainable energy landscape.

The portfolio consists of three sets of community solar gardens in Illinois: six sites with a capacity of approximately 47 MW, four sites totaling 12 MW, and four sites representing 25 MW. Construction is scheduled to commence in 2024, and most of the projects are projected to be finished by the year’s end, with the remaining ones anticipated to be completed in 2025.

Standard Solar purchased the milestone portfolio from developer New Leaf Energy. The partnership between the two companies is a testament to their dedication to expanding clean energy access to communities throughout Illinois.