The Pennsylvania solar power market is seeing an increase in both utility and local scale solar power development. A change in law supporting in-state created and sold solar renewable energy certificates (SREC), as well as the bubble of potential political shifts is driving this.

Last week, Glidepath Ventures and Grasshopper Solar announced that they’d transacted on a 278 MW (~1,100 acres), 12-project portfolio. The transaction price was announced at $300 million – $1.08/W.

Glidepath originated the portfolio between 2017-2019, and will continue development, interconnection and permitting. The group anticipates commercial operation dates of 2020, 2021, and 2022. Glidepath noted they’d developed another four projects in Pennsylvania, totaling 887 MW, and placed those with an independent power producer – totaling 1,165 MW of solar capacity.

Grasshopper Solar will be the long-term owner-operator. The Canadian developer will lead project financing – which will include equity, tax equity, and debt partners. They’ll also manage construction and sales of the electricity.These projects will participate in the PJM Interconnection market.