Community solar developer Standard Solar has acquired the 12.18 MW Wheeler Gulch project from original owner Caerus Piceance.
The two will now partner on decarbonizing the latter's oil and gas operations there.
The ground-mounted solar array will help incorporate renewable energy into Colorado’s oil and gas sector. The project will produce energy to support Caerus Piceance’s Middle Fork compressor station for more stable electricity costs and reduce dependence on the traditional power grid.
The new Wheeler Gulch project covers 44 acres along County Road 215 in Garfield County. The site will produce approximately 25 million kWh of clean, renewable electricity each year.
“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, in a statement.
Caerus Operating LLC has close to 7,500 natural gas wells in the Piceance and Uinta basins, producing close to 600 million cubic feet per day.
The Wheeler Gulch project with approximately 22,000 solar panels will be integrated with the Xcel Energy grid and all generated power will be used on-site for Caerus’ operations. It will produce enough energy to power approximately 2,200 average American homes annually.
While Garfield County’s Board of Commissioners has approved the project, in support of Caerus’ efforts to diversify its energy sources, it is expected to be completed by the end of 2024.
Standard Solar has invested in several new community and utility-scale projects over the past year. Private equity firm Brookfield Renewables acquired Standard Solar for $540 million in late 2022.
Investment in community solar is rising nationwide as an alternative between the more expensive residential rooftop solar and the more remote, less direct utility-scale solar projects. Community solar invites customers to subscribe to the project and its output, and the customers receive credits which lower electric bills and contribute to decarbonization of the regional grid.
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