Distributed Solar Development LLC, one of the leading renewable players in the U.S, is yet again investing in renewables with its solar development across Denver area. The company reportedly announced that it has acquired four projects from Oak Leaf Energy Partners. The construction of these four projects is expected to begin this summer with commercial operation dates scheduled for late 2020.
Situated in Adams and Arapahoe counties in the greater Denver area, the 9 MW solar portfolio is DSD’s first 3rd party acquisition from a development partner as it continues to strengthen its larger asset acquisition strategy.
Jon Morton, who is the VP of acquisitions at DSD said that the company is thrilled to strengthen Colorado’s economy with reliable, clean solar energy and are equally excited to complete its first strategic acquisitions.
Mr. Morton added that by combining the company’s strong financial partnerships with increasing market opportunities across the nation, DSD can tremendously add value to development partners and diversifies its origination portfolio with new deals. The Oak Leaf projects deliver a unique mix of subscribers and the company is looking forward to catering them and the nearby communities in the forthcoming years.
These four projects will cater to municipal, local corporate, and non-profit organizations. Moreover, these projects would also benefit several low to moderate-income participants.
Speaking on the same, Caitlin Rood, Director for national environmental sustainability at Mercy Housing said that the company is thrilled to be able to buy 120 percent of its common area energy consumption for seven of its Denver metro area based properties from community solar arrays by DSD.
She added that community solar has enabled the company to buy all of the power used in the common areas of its housing properties while saving cost and benefitting sustainability of the local environment. Mercy Housing would also implement community solar across its portfolio if it would have such opportunities, she said.