Standard Solar Completes Acquisition of 6.2 Megawatt Rhode Island Community Solar Portfolio from Trina Solar
ROCKVILLE, Md.–(BUSINESS WIRE)–#RhodeIslandsolar—Standard Solar, Inc., a recognized leader in the development, funding, ownership and operation of commercial and community solar assets, is expanding its community solar portfolio in Rhode Island with the acquisition of a combined 6.2 megawatts of projects from Trina Solar.
The two ground-mount community solar projects – West Main 1 and West Main 2 – developed by Trina Solar are located in Portsmouth. Rhode Island has some of the highest electricity prices in the country, and they are expected to continue to increase. These new projects will allow subscribers – a mix of state agencies, quasi-state agencies, municipalities, public housing authorities, public schools, private schools, non-profits, federal government and hospitals – in the National Grid service territory to benefit from clean energy savings by offsetting their electricity bills with solar energy.
All the power generated will be subscribed utilizing the state’s Virtual Net Metering program.
“Partnerships in this industry are critical to delivering successful solar projects,” said Michael Streams, Standard Solar’s Chief Development Officer. “We’re honored to be a trusted development partner of Trina’s, particularly in helping Rhode Island grow its clean energy footprint, and look forward to growing our mutually beneficial relationship as our company launches its next growth phase.”
“We are very happy to get the chance to collaborate with Standard Solar, one of the fastest growing developers and operators of community solar,” said from Linhui Sui, President of Trina Solar International Solar System Business Unit (“Trina ISBU”). “We are committed to developing similar systems to expand broader customer access for local, clean, and affordable community solar.”
These projects will contribute to achieving Rhode Island’s first-in-the-nation goal to meet 100% of the state’s electricity demand with renewable energy by 2030. In addition to accelerating clean energy supply, the projects will generate new long-term investment, savings and job growth opportunities across the economy.
Combined, the arrays are expected to produce approximately 8,600 MWh of clean energy annually, which is equivalent to offsetting the CO2 emissions from 4,134,853 pounds of coal burned, charging 454,600,730 smartphones or 727 homes’ electricity use for one year.
Subscription participation information is available at CommunitySolar@standardsolar.com
Both projects are expected to be completed in 2023.
About Standard Solar
Standard Solar, a Brookfield Renewable company, is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 18 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, 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 300 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
For project acquisition and development inquiries, contact John Finnerty, Director of Project Development, 240-479-1519, john.finnerty@standardsolar.com and on LinkedIn.
About Trina ISBU
Trina ISBU, a business unit of Trina Solar, is a utility-scale global solar power and battery storage solutions developer for international market. With more than 15 years’ professional experiences and track records in project development, financing, EPC and O&M, Trina ISBU is committed to be a global leader in the development and management of smart renewable energy solutions, and creating value for local stake holders and international investors. We are active in more than 20 countries and areas, including but not limited to USA, UK, Italy, France, Greece, Spain, Japan, Colombia, Mexico, Chile, Peru, Australia, South Korea, Vietnam, Malaysia, Philippines, Cambodia, Brazil, Poland, Germany, Hungary, Croatia. Contact us: isbu@trinasolar.com
Contacts
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Leah Wilkinson
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703-907-0010
