sPower recently acquired the operating 55MW Idaho Solar 1 project. Located in Kuna County, ID and placed in service in late 2016, the PV system will continue to operate and sell all output to Idaho Power Company under a 20-year contract.
"We are thrilled to add another high-quality asset to the sPower fleet. Consummating this transaction would not have been possible without the support of AES and AIMCo as we continue to push the market across the competitive, renewable M&A landscape," commented Brian Callaway, Director of Structured Finance and M&A at sPower. He added, "The ability to finance this purchase with proceeds from a delayed draw on our recent bond issuance was a key competitive advantage."
"We were pleased to work with York capital and find a final home for this project," said sPower CEO Ryan Creamer. "In addition to ownership, the Idaho Solar 1 project will now be operated by sPower Services, a team that operates over 1,300MWdc that generates over 10GW hours a day."