In a partnership with Oak Leaf Energy Partners, Distributed Solar Development (DSD) has added four new projects to its community solar portfolio. The projects, located in Adams and Arapahoe counties, are expected to generate 7.9-megawatts of solar energy. The Oak Leaf portfolio is the first third-party acquisition for DSD, which continues to seek expansion opportunities for larger assets.
The four projects added to the community solar portfolio will span local municipal, corporate, and nonprofit organizations. Low-income households will also be able to benefit from the projects upon their completion.
According to VP of DSD’s acquisitions, Jon Morton, its acquisition of the Oak Leaf Energy Partners’ portfolio is a step in strengthening Colorado’s economy with renewable energy. Morton is enthusiastic about additional purchases and says that DSD is able to bring immediate value to other development partners.
Among the customers taking advantage of DSD’s partnership with Oak Leaf Energy is Mercy Housing, a nonprofit organization that helps secure affordable housing for low-income residents. The organization’s director, Caitlin Rood, spoke about DSD’s community solar portfolio, stating that Mercy Housing purchases 120% of its energy consumption for seven of its properties from arrays financed by DSD. Rood continued, stating that community solar projects continue to provide a cost-effective means of obtaining solar energy that bypasses the process of installing rooftop solar panels.
DSD and Oak Leaf have already received permits for the four new projects. Construction is expected to begin in the summer and the site is anticipated to be operational by the fourth quarter of 2020.
Distributed Solar Development works with leading corporations, including Home Depot, LG, General Electric, and MGM Springfield to spread transformative, renewable energy. The development company provides cost-effective solar solutions in the form of canopy, rooftop, and ground-mount installations. It also offers battery storage for renewable energy. DSD has a $250 million project fund and has had a hand in generating 146 GWh in its lifetime.