Sol Systems Expands Midwest Presence with Acquisition of 2 GW of Clean Energy Projects
Washington, D.C., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Sol Systems has expanded its clean energy portfolio by acquiring over 2 gigawatts (GW) of utility-scale hybrid solar and storage projects across the Midwest. This strategic collaboration with Tenaska, the Omaha-based energy company, solidifies Sol’s commitment to scaling its Infrastructure + Impact approach to driving sustainable energy solutions for its customers.
The portfolio spans multiple states within the Midwest. The projects, each exceeding 100 megawatts (MW), are slated for operations between 2028 and 2029. Tenaska will continue collaborating with Sol on the development of these projects through the construction phase, after which Sol plans to build, own, and operate them.
This acquisition is part of Sol’s strategic growth plan to scale its renewable energy infrastructure business while maintaining a strong focus on community and ecosystem impact. The company’s Infrastructure + Impact strategy emphasizes delivering clean energy solutions that benefit local communities and advance environmental goals.
“We are thrilled to expand our relationship with Tenaska and build on the success we’ve achieved together in previous projects, including Eldorado Phase I and Eldorado Phase II,” said Matt Strangfeld, Vice President of Development Strategy for Sol Systems. “These projects are a significant step forward in our mission to provide clean, reliable energy while positively impacting communities. Our Infrastructure + Impact strategy ensures that our growth benefits both the environment and the communities we serve.”
Tenaska, known for its expertise in energy development, echoed this enthusiasm. Tim Hemig, Senior Vice President, Tenaska Development, commented, “Our ongoing collaboration with Sol Systems highlights our shared vision of delivering high-impact renewable energy solutions. Together, we are advancing the clean energy transition in a way that aligns with our commitment to environmental stewardship and community engagement.”
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About Sol Systems
Sol Systems is a leading national renewable energy firm with an established reputation for integrity and reliability across its development, infrastructure, and environmental commodity businesses. Sol is currently operating and building over 7 GW of solar projects valued at over $2 billion for Fortune 500 companies, municipalities, counties, utilities, universities, and schools and provides environmental commodity portfolio management services to more than 40,000 customers across the United States. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with institutional clients, corporate partners, and foundations to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com/.
About Tenaska
Consistently ranked among Forbes’ List of America’s Largest Private Companies, Tenaska is a leading energy company with business operations that span the energy value chain. Tenaska Marketing Ventures (TMV) and Tenaska Power Services Co. (TPS) are among the largest natural gas and electric power marketing companies in North America. The company has an operating fleet of 7,700 megawatts (MW) of natural gas and renewable generating facilities and throughout its history has developed, managed and/or operated approximately 22,128 MW of natural gas-fueled and renewable generation. Tenaska’s development services portfolio includes more than 28,887 MW of solar, wind and energy storage projects and 10 carbon sequestration projects capable of storing 50 million metric tons of CO2 per year. Tenaska seeks investment opportunities to allocate its capital into generation assets nationwide. For more information, visit www.tenaska.com.
Attachments
Jacqueline Mayan Sol Systems (202) 656-4815 jacqueline.mayan@solsystems.com Timberly Ross Tenaska (402) 691-9517 tross@tenaska.com
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