Sol Systems, a leading national solar energy firm, announced this Tuesday it has completed the acquisition of a 540-megawatt (MW) solar development portfolio in southeast Illinois from Arevon Energy.
Firstly, Sol systems has established a reputation integrity and reliability across its development, infrastructure, and environmental commodity businesses. To date, Sol has developed and/or financed over 1 GW of solar projects; valued at more than $1 billion for Fortune 100 companies; municipalities, counties, utilities, universities; and schools and provides services to nearly 18,000 customers across the US.
The portfolio acquired is in fact of a number of acquisitions Sol Systems is making to scale its Impact + Infrastructure platform across the US. It consists of three 180 MWdc solar energy projects located across Hamilton, Randolph, Saline, and White counties.
Moreover, Sol Systems will own and operate the portfolio and will work with energy developer Tenaska to develop and construct the projects.
In addition to delivering clean energy locally; the company will develop and operate the projects in a manner intended to enable local employment; opportunities and additional community benefits.
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Acquisition by Sol Systems to expand its utility-scale solar development in Illinois
Furthermore, once complete, the portfolio will produce enough solar energy per year to power nearly 77 thousand homes; and offset the equivalent of nearly 140 thousand passenger vehicles’ emissions.
Patty Rollin, Senior Vice President of Utility-Scale Solar Development at Sol Systems said about the matter. “This acquisition begins Sol Systems’ significant expansion into utility-scale solar development in Illinois.”
The executive also remarked. “We are eager to work with Tenaska to construct and deliver clean solar energy to the grid and to create long-term community and ecological benefits at scale.”
On the other hand, Justin Johnson, Arevon’s chief operating officer, commented. “This sale is a continuation of the partnership between Sol Systems and Arevon, which began with our joint venture, Sol Customer Solutions, providing distributed generation solutions to commercial customers. We are pleased to contribute to the growth of clean energy usage in Illinois.”
Finally, Tenaska is one of the leading independent energy companies in the United States, with a reputation for high standards and expertise in natural gas and electric power marketing, energy management, development and acquisition of energy assets, and operation of generating facilities.
