SoCore Scoops Up $80M In MN Solar Garden Projects From Bankrupt Co.
SoCore Energy said Monday it would expand its solar operations in Minnesota with the purchase of 22 community solar garden development projects.
Chicago-based SoCore agreed to pay $79.8 million to SunEdison for the unfinished solar projects. SunEdison, a renewable energy company from Maryland Heights, Missouri, recently put its Minnesota developments up for sale after filing for Chapter 11 bankruptcy protection last April.
Once completed, the 22 solar garden installations will provide up to 140 megawatts of solar power, SoCore said. That’s roughly enough energy to power 23,000 homes, according to the Solar Energy Industries Association.
“These new solar projects will help to strengthen and accelerate our ability to supply clean, reliable and cost competitive renewable energy to our customers in the state,” SoCore CEO Robert Scheuermann said in prepared remarks. “We work with many customers, partners and stakeholders to deliver solar projects across the United States and are honored to continue to expand our capacity in Minnesota.”
SoCore expects all project development and construction of the 22 solar gardens to wrap sometime next year.