Grasshopper Solar Acquires 278 MW Solar Projects in Pennsylvania

Grasshopper Solar has announced the acquisition of a 278 MW dc portfolio of solar projects in Pennsylvania from Glidepath Ventures

Grasshopper Solar, a global developer and asset owner headquartered in Canada, has announced the acquisition of a 278 MW dc portfolio of solar projects in Pennsylvania from Glidepath Ventures, a leading clean energy-focused development and investment firm. Once operational, the portfolio will nearly double the amount of solar assets currently operating in Pennsylvania.

“Grasshopper Solar is a global company that has successfully developed, owns and operates significant portfolios of solar energy projects in various markets around the world,” said Jonathan Persaud, Grasshopper Solar’s Chief Development Officer. “Part of our investment strategy in the United States is to continue expanding into markets with local partnerships to further promote the development of renewable energy in these jurisdictions. We are excited to be entering the PJM market, which we believe has stable characteristics for ongoing solar development. These projects will provide environmental and economic benefits while promoting more job opportunities for the American people in the state of Pennsylvania.” 

Glidepath Ventures originated the distributed generation portfolio totaling 12 projects between 2017-2019 and under the transaction will complete development, interconnection and permitting with anticipated commercial operation dates in 2020, 2021, and 2022.  Grasshopper Solar will be the long-term owner-operator and will lead power marketing; funding, including equity, debt and tax equity; engineering, procurement and construction; and operations.

“Since 2017 we have developed more than 2 GW of early-stage project opportunities in PJM and other burgeoning markets,” said Geoffrey S. Underwood, a Partner of Glidepath Ventures. “We are pleased to leverage its scaled-origination platform with Grasshopper Solar.”

Recently, we had reported that US-based First Solar had announced that Longroad Energy is the acquirer of its four solar projects with a combined capacity of 160-megawatts (MW) in California. 

Backed by a long-term Power Purchase Agreement (PPA) with a Community Choice Aggregator (CCA), Marin Clean Energy (MCE), the Little Bear Solar portfolio of projects is located in Fresno County, California. The projects, which range from 20 MW to 50 MW, are expected to be completed by the end of the fourth quarter of 2020 and designed to have a low impact on local land and water resources, and the environment.

PC: Acciona