Today, Washington, DC.-based Sol Systems announced the acquisition of a 540MW solar development portfolio in southeast Illinois from Arevon Energy, a renewable energy company that performs commercial, financial, performance asset management, and construction services.
The portfolio consists of three 180MWdc solar energy projects located across Hamilton, Randolph, Saline, and White counties. Sol Systems will own and operate the portfolio and will work with energy developer Tenaska to develop and construct the projects. Tenaska’s development portfolios include nearly 22GW of solar, wind, and energy storage projects.
Upon completion, 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.
“This acquisition begins Sol Systems’ significant expansion into utility-scale solar development in Illinois,” said Patty Rollin, Senior Vice President of Utility-Scale Solar Development at Sol Systems.
To date, Sol has developed and/or financed over 1GW 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.
“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.” said Justin Johnson, Arevon’s chief operating officer.
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