SolRiver Capital said it acquired a portfolio of 14 community and utility-scale solar projects in Oregon.
The projects were developed by Portland’s Sulus Solar and total 38 MW in capacity. SolRiver Capital said it is investing over $52 million to complete the projects. Construction on the first projects is planned for spring 2022.
The portfolio includes utility-scale facilities and community solar projects. The community solar projects will sell their energy to customers in both Portland General Electric and Pacific Power utility territories. Oregon has had community solar as an option since 2016.
The community solar projects follow the Oregon Public Utilities Commission’s recent approval of the inclusion of additional residential and low-income customer in the program.
The projects would represent a 3% increase to the total installed solar capacity in the state, per the Solar Energy Industries Association (SEIA). Currently, SEIA reports the state as having a five-year project pipeline of 1,668 MW of solar.
Once completed, the combined facilities are expected to generate 60 million kWh of electricity annually, said SolRiver.
Earlier this year, the state enacted a bill that requires its two major utilities to submit plans for carbon reduction. The bill set targets of 80% reductions from a baseline amount in 2030, and 100% by 2040.
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