Marathon Capital, LLC (“Marathon Capital”) is pleased to announce the sale of Standard Solar, Inc. (“Standard Solar”) to Brookfield Renewable (NYSE BEP, BEPC; TSX: BEP.UN, BEPC) together with its institutional partners. Brookfield Renewable acquired Standard Solar for a total consideration of $540 million, representing an enterprise value of approximately $1 billion including the assumption of tax equity and project debt. Marathon Capital served as financial advisor to the seller.
Standard Solar is a market-leading owner and operator of commercial and community distributed solar, with end-to-end development capabilities and a strong track record of delivering high-quality assets. Standard Solar has approximately 500 MW of operating and under construction contracted assets, a robust development pipeline of almost 2,000 MW, and a strong team to execute on significant growth opportunities across several high value solar markets in the U.S., such as New York, Maryland, Minnesota, and Maine.
“Marathon Capital’s dedication and expertise throughout this acquisition made the experience seamless and helped bring the transaction to a favorable conclusion,” said Scott Wiater, President & CEO, Standard Solar. “Standard Solar’s leadership is grateful for Marathon Capital’s role in helping us begin this significant new chapter of company growth.”
“We are keenly focused on the distributed generation sector at Marathon Capital and having the opportunity to work with one of the segment’s top names was a pleasure. We wish the Standard Solar management team the best of luck as they operate within the Brookfield Renewable platform.” – Ammad Faisal, Senior Managing Director & Co-Head of the NYC Office