Standard Solar, a developer and owner of commercial and community solar projects, acquired 25 MWdc of the Windhub Solar B solar project in Kern County, California, from Balanced Rock Power, a renewable energy project developer.
The project’s construction will begin in the first half of 2025. EOS Capital Advisors supported BRP in the acquisition by providing sell-side advisory services.
According to Standard Solar, the project is expected to produce approximately 56,674 MWh of clean electricity annually and supply clean energy to Southern California Edison, an electric utility.
“This acquisition is another example of our successful partnerships with innovative developers like BRP, allowing us to bring high-quality solar projects to market efficiently,” said Mike Streams, Chief Development Officer of Standard Solar. “It also aligns with our strategy of acquiring high-quality projects developed by utility-scale developers in the 20 to 75 MW range. Our expertise and appetite for these types of acquisitions enable us to strategically expand our clean energy portfolio and provide dependable, sustainable power to the grid.”
In March, Standard Solar announced the acquisition of an 18.5 MW solar project portfolio in Vermont from MHG Solar, a solar project developer. The portfolio consists of six solar projects, all owned and operated by Standard Solar, and will provide clean energy to Vermont’s electric utilities under the state’s Standard Offer Program. The company also acquired an 84 MW community solar portfolio in Illinois from New Leaf Energy in February of this year.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
