sPower announces acquisition of 55 MW solar project in Idaho
sPower has announced that it recently acquired the operating 55 MW DC Idaho Solar 1 project, located in Kuna County, Idaho, north-west USA. In addition to ownership, the Idaho Solar 1 project will now be operated by sPower Services.
Placed in service in late 2016, the photovoltaic power plant will continue to operate and sell all output to Idaho Power Company under a 20-year contract.
The purchase was financed with proceeds from a delayed draw on the company's recent bond issuance.
This is sPower's first operating project acquisition since being acquired by AES Corporation and the Alberta Investment Management Corporation (AIMCo) in July 2017.
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