Standard Solar, a leading commercial and community solar developer and asset owner, announced the acquisition of an 18.5-megawatt (MW) solar project portfolio in Vermont from local developer MHG Solar.
The six projects, owned and operated by Standard Solar, will provide clean energy to Vermont’s electric utilities under the state’s Standard Offer Program. This purchase underscores Standard Solar’s commitment to promoting sustainable energy solutions and advancing the development of solar power in the region.
The portfolio, spread across Vermont, marks a substantial growth of Standard Solar’s presence in the state. With the inclusion of these projects, the company is actively advancing Vermont’s green energy objectives and reinforcing its status as a vibrant solar energy hub. These initiatives are poised to produce clean electricity capable of powering thousands of homes in Vermont, significantly curbing greenhouse gas emissions. They are also expected to foster the creation of numerous local job opportunities, promoting economic prosperity and community development in the region.
“We are thrilled to be taking this significant step forward in the Vermont solar market with our long-term partner MHG Solar,” said Eric Partyka, Director of Business Development, Standard Solar. “We firmly believe in the transformative power of solar energy, and this acquisition allows us to play a vital role in helping Vermont achieve its renewable energy targets. We are fully committed to partnering with the local authorities and stakeholders to ensure a seamless integration of these solar projects into the existing energy infrastructure.”
The projects include Evergreen Solar, 2.9 MW in Fair Haven; Halladay Solar, 3.3 MW in Middlebury; Midway Solar, 3.3. MW in Berlin; Steinberg Solar, 3.3 MW in Brandon; Stone Mill Solar, 2.8 MW in Castleton; and Trolley Tracks Solar, 2.8 MW in Poultney. All projects are expected to be completed by the end of this year.
“MHG is excited to be partnered with Standard Solar on this portfolio of projects,” expressed one of MHG’s Owners, Thomas Hand. “MHG is exclusively focused on developing thoughtfully located, high-quality, clean energy projects in Vermont to help guide the State forward on its continued path as a national leader in renewable energy commitments and this portfolio represents another big step in that direction. We’re excited for the future of renewable energy in Vermont.”
The power purchase agreement (PPA) is with VEPP Inc., the Standard Offer Facilitator for existing and new Standard Offer Projects. VEPP acquires electric power from Vermont renewable resources and then distributes it to all 17 Vermont utilities on a pro-rata basis.
“It is also important to highlight and acknowledge the supportive, positive policy framework that the state of Vermont provides through VEPP’s Standard Offer RFP process, which makes these projects possible,” continued Partyka.
Standard Solar announced its first project partnership with MHG Solar in 2020 for a 3.2 MW solar project in Wallingford, Vermont. This collaboration marked a pivotal moment in Standard Solar’s commitment to advancing renewable energy solutions in the Vermont solar market.
SOURCE: BusinessWire