Ardmore, PA: Grasshopper Solar, a global developer and asset owner headquartered in Mississauga Ontario, announced March 2 the acquisition of a 278 MWdc portfolio of solar projects in Pennsylvania from Glidepath Ventures, a leading clean energy focused development and investment firm.
Glidepath Ventures originated the distributed generation portfolio totalling 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, EPC, and operations. Once operational, the portfolio will nearly double the amount of solar assets currently operating in Pennsylvania.
"Since 2017 Glidepath Ventures has developed more than 2GW of early stage project opportunities in PJM and other burgeoning markets," said Geoffrey S. Underwood, a Partner of Glidepath Ventures. "Glidepath is pleased to leverage its scaled-origination platform with Grasshopper Solar."
Founded in 2007 by Azeem M. Qureshi, Grasshopper Solar currently owns $1.8 billion of assets and has a development pipeline of $6.5 billion in various countries around the world.