Standard Solar Expands Illinois Footprint with 39 MW Community Solar Portfolio Acquisition from New Leaf Energy
In a significant move to strengthen its presence in Illinois, Standard Solar, a leading commercial and community solar developer and asset owner, has successfully acquired a 39-megawatt (MW) community solar portfolio from New Leaf Energy, a well-established developer known for its clean energy projects. This acquisition marks another strategic milestone for Standard Solar, significantly enhancing its growing renewable energy portfolio in Illinois and demonstrating the company’s ongoing commitment to expanding clean, community solar power across the state.
With this new acquisition, Standard Solar’s footprint in Illinois now includes over 30 projects with a total combined capacity of 150 MW. These projects span across various stages of development, including operational, in-construction, and contracted projects. By adding this portfolio to its portfolio, Standard Solar is poised to play a significant role in the state’s transition to clean, renewable energy, with a focus on providing solar energy solutions that benefit local communities.
A Strategic Acquisition of Five Community Solar Projects
The newly acquired portfolio consists of five community solar projects located in towns across Illinois: Blackstone, Braceville, Dwight, Seneca, and Wadsworth. Each of these projects is equipped with a combination of single-axis tracker and ground mount solar technologies, providing optimal performance and energy output. The projects, when fully operational, are expected to generate more than 46,700 megawatt-hours (MWh) of clean energy during their first year of operation. This energy output will significantly contribute to Illinois’ renewable energy goals, benefiting local communities by providing them with affordable and accessible clean power.
As a community solar initiative, these projects are designed to allow both residents and businesses in the areas surrounding the towns of Blackstone, Braceville, Dwight, Seneca, and Wadsworth to subscribe to solar energy and receive credits on their electricity bills. This will enable local customers who may not have the opportunity to install traditional solar panels on their properties—due to factors like roof space, installation costs, or other barriers—to still access the environmental and financial benefits of solar energy. Community solar projects have become an important component in making renewable energy accessible to a broader segment of the population, especially for renters, low-income families, and those living in areas unsuitable for rooftop solar.
Strengthening Partnerships and Advancing Illinois’ Clean Energy Transition
For Standard Solar, the acquisition further reinforces its commitment to accelerating clean energy access in Illinois. Harry Benson, Director of Business Development at Standard Solar, commented on the deal, noting, “This acquisition from New Leaf Energy reinforces our commitment to expanding access to solar in Illinois and reflects the strong working relationship we’ve built through multiple successful transactions. It also marks another key addition to our growing portfolio, highlighting our focus on acquiring high-quality, strategic assets.”
Standard Solar has a proven track record in the community solar space, and its partnership with New Leaf Energy has already resulted in nearly 30 successful transactions. These partnerships are a testament to the companies’ shared vision of advancing the clean energy transition and supporting the development of renewable energy projects that benefit both local communities and the environment.
Kate Vann, Project Finance Director at New Leaf Energy, echoed these sentiments, saying, “Through our strong partnership with Standard, we are proud to deliver another 39 megawatts of clean, reliable, and renewable energy to communities across Illinois, and advance our shared commitment to building a more sustainable future.” She emphasized the importance of the collaboration in helping to achieve Illinois’ clean energy goals, which are ambitious and set to transform the state’s energy landscape.
Demonstrating Financial Strength and Competitiveness in Community Solar
Community solar projects are often highly competitive, and successful developers must be able to meet the technical, financial, and operational challenges that come with such initiatives. Standard Solar has repeatedly demonstrated its strength as a competitive financial partner in this space, particularly through its ability to work with motivated partners to identify and acquire high-quality, ready-to-build projects.
Mike Streams, Chief Development Officer at Standard Solar, highlighted the significance of this acquisition, stating, “New Leaf Energy has been an exceptional partner, and this marks nearly 30 successful transactions together. It underscores our strength as a competitive financial partner and reliable owner-operator in community solar, as well as our ongoing commitment to working with motivated partners to accelerate the clean energy transition through ready-to-build projects.”
This sentiment was further echoed by Andrew Kraczkiewicz, Vice President at New Leaf Energy, who emphasized the strategic importance of such partnerships in achieving the broader goal of transitioning to a renewable energy future: “At New Leaf Energy, we’re proud to support Illinois’s clean energy goals by delivering high-quality, community-focused solar projects. This portfolio reflects our commitment to advancing the energy transition through strategic partnerships and disciplined project execution. Partnering with communities and innovators who share our vision is central to our mission of accelerating the transition to a world powered by renewable energy.”
Through these partnerships, both companies are making significant strides in promoting sustainability, enhancing the financial viability of clean energy projects, and empowering local communities to become active participants in the renewable energy revolution.
Supporting Illinois’ Clean Energy Goals and the Illinois Climate and Equitable Jobs Act
This acquisition is closely aligned with Illinois’s ambitious renewable energy goals, which are laid out in the Climate and Equitable Jobs Act (CEJA). Illinois aims to achieve 100% clean energy by 2050, and community solar is a key strategy to help the state meet this target. The new community solar projects will directly contribute to this clean energy goal by providing a reliable, renewable energy source for residents and businesses alike.
By making renewable energy more accessible, Standard Solar’s acquisition will also contribute to the equitable distribution of clean energy benefits across Illinois. Community solar projects, such as these, are particularly important in ensuring that all residents—regardless of income level or property ownership—have an opportunity to participate in the clean energy transition.
In addition to the projects from New Leaf Energy, Standard Solar has also recently acquired two additional community solar projects from Cenergy Power, totaling more than 9 MW. This further demonstrates Standard Solar’s commitment to expanding its community solar portfolio and increasing its impact on the clean energy landscape in Illinois.
The Future of Community Solar in Illinois and Beyond
The expansion of Standard Solar’s portfolio in Illinois is part of a larger trend in the growth of community solar across the United States. Community solar has been widely recognized as one of the most effective ways to democratize access to renewable energy, allowing all segments of society to participate in the clean energy transition. With its combination of environmental benefits, economic incentives, and social equity, community solar is expected to continue playing a significant role in the country’s renewable energy future.
As Illinois continues to pursue its clean energy targets, projects like those acquired by Standard Solar will serve as crucial building blocks in the state’s transition to a fully sustainable energy system. The integration of these solar projects into the local grid will help stabilize energy supply, reduce reliance on fossil fuels, and lower carbon emissions.
Looking ahead, Standard Solar is well-positioned to continue growing its community solar portfolio, both in Illinois and across the country. By working closely with innovative partners like New Leaf Energy and Cenergy Power, the company will help drive forward the clean energy transition while also providing tangible benefits to local communities, business owners, and residents who are eager to embrace renewable energy solutions.
