Standard Solar and Caerus Piceance, LLC Partner on 12.18 MW Wheeler Gulch Solar Project in Colorado

ROCKVILLE, Md.--(BUSINESS WIRE)--Sep 10, 2024--

Standard Solar, a leading commercial and community solar developer and asset owner, today announced its acquisition of the Wheeler Gulch Solar Project from Caerus Piceance, LLC (Caerus Piceance). The Wheeler Gulch Solar Project represents a milestone in the ongoing shift towards renewable energy in industrial applications.

The 12.18-megawatt (MW) ground-mounted solar array, developed by Caerus Piceance, is a major advancement in incorporating renewable energy into Colorado’s oil and gas sector and one of the state’s largest behind meter solar installations. Now owned and operated by Standard Solar, the project will produce energy that directly supports Caerus Piceance’s Middle Fork compressor station, ensuring more stable electricity costs and reducing its dependence on the traditional power grid.

“Our partnership with Caerus Piceance on the Wheeler Gulch Solar Project represents our shared commitment to expanding the use of renewable energy in traditionally fossil-fuel-dependent sectors,” said Mike Streams, Chief Development Officer and General Counsel, Standard Solar. “The speed and seamlessness of this transaction underscore the strong collaboration between our teams, benefiting both parties and ensuring the timely advancement of this critical project.”

The Wheeler Gulch Solar Project spans 44 acres along County Road 215 in Garfield County. Previously home to holding ponds and an access road, the site will now produce approximately 25 million kilowatt hours of clean, renewable electricity each year. The project, consisting of approximately 22,000 solar panels, will be integrated with the Xcel Energy grid, with all generated power used on-site for Caerus’ operations. Its completion is anticipated by the end of the year.

Garfield County’s Board of Commissioners unanimously approved the project, in support of Caerus’ efforts to diversify its energy sources.

“This project was initiated to lock in the cost of a portion of Caerus Piceance’s energy requirement for decades, and displace coal fired electricity from the grid with clean solar power,” said Dave Keyte, CEO, Caerus Piceance.

“We selected Standard Solar to partner on this project due to their vast experience in similar projects and their speed and skill shown in being able to take over and timely complete the project,” added Jeter Thomas, President, Caerus Piceance.

Upon completion, the Wheeler Gulch Solar Project will produce enough energy to power approximately 2,200 average American homes annually, demonstrating the viability and importance of solar energy in reducing operational costs and supporting environmental goals.

“By repurposing land previously used for oil and gas operations, we are decarbonizing traditional fossil-fuel production into a beacon of sustainability,” said Megan Byrn, Vice President of Business Development, Standard Solar.

About Standard Solar

Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar and solar + storage to businesses and institutions, farms, governments, communities and utilities. Building on 20 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in developing, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 350 megawatts of solar across the United States. Based in Rockville, Maryland, Standard Solar is a portfolio company of Brookfield, one of the world’s largest owners and operators of renewable power and climate transition assets. Learn more at standardsolar.com, LinkedIn and on X (formerly known as Twitter): @StandardSolar.

For project acquisition and development inquiries, contact Megan Byrn, Vice President of Business Development, 301‑944‑5113, megan.byrn@standardsolar.com and on LinkedIn.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240910531397/en/

CONTACT: PR Contact:

Leah Wilkinson

Wilkinson + Associates for Standard Solar

703-907-0010

leah@wilkinson.associates

KEYWORD: MARYLAND COLORADO UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER ENERGY UTILITIES ENVIRONMENT OIL/GAS SUSTAINABILITY ALTERNATIVE ENERGY ENERGY

SOURCE: Standard Solar

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