Reinforces its Commitment to the State’s Renewable Energy Market
Vermont Business Magazine Standard Solar, a leading commercial and community solar developer and asset owner based in Maryland, has 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 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.
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.”
“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.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar and solar + storage to businesses and institutions, farms, governments, communities, and utilities. Building on 20 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in developing, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 350 megawatts of solar across the United States. Based in Rockville, Maryland, Standard Solar is a portfolio company of Brookfield, one of the world’s largest owners and operators of renewable power and climate transition assets. Learn more at standardsolar.com, LinkedIn and on X (formerly known as Twitter): @StandardSolar.
About VEPP Inc
VEPP Inc. is a not-for-profit Vermont corporation that administers two of Vermont’s Renewable Energy Programs under contract with the Vermont Public Utility Commission.
The corporation was started in 1994 as a collaboration between independent power producers and the Vermont utilities. It is governed by a Board of Directors consisting of four Vermont utility executives, four independent power producers and three public directors. The public directors are appointed by the Commissioner of the Department of Public Service and have the important role on the Board of representing the interests of ratepayers. The VEPP Inc. Board of Directors meets quarterly in open meetings.
VEPP Inc. is the Standard Offer Facilitator for existing and new Standard Offer Plants and is the counter party for the Ryegate plant. Under these roles, the corporation acquires electric power from Vermont renewable resources and then distributes it to all 17 Vermont utilities on a pro rata basis. It manages a renewable power portfolio of nearly 100 MW.
VEPP Inc. (vermontstandardoffer.com)
Source: 3.11.2024. ROCKVILLE, Md.--(BUSINESS WIRE)--Standard Solar
