Standard Solar’s Been Acquired – And Here’s What It Means To You
By now, you know that Standard Solar, the company I’ve proudly served since 2008, has been acquired by Canadian energy leader Gaz Métro. I’m sure many of you are wondering what this means for Standard Solar and our business.
Let me start by saying that this deal is going to create great opportunities for both parties, which is why we couldn’t be happier that the deal is complete.
For those of you who are unfamiliar with the Canadian energy market, Gaz Métro is a major energy sector player highly committed to developing and operating innovative, promising energy projects. Their expertise in financing, operating and supporting renewable energy development is unparalleled – which is why, when they approached us with interest in acquiring us, we knew it was the ideal fit.
And the enthusiasm was mutual. Gaz Métro had been searching for an effective way to move into the burgeoning U.S. solar market and, in particular, the commercial solar market. Like us, they believe the market is on the verge of an explosive breakthrough, and they want to be in a position to take advantage of getting in early.
That’s when Gaz Métro’s investigation of the best commercial solar firms in the United States led them to us. After all, we’ve have more than 100 MW installed, financed or maintained in seven of the top 10 solar states in the country. We also have 80 MW more in our development pipeline. As Gaz Métro itself would tell you, that expertise and reputation made us the perfect vehicle for it to enter the U.S. market.
On our end, we’ve been searching for some time for a partner with the financial heft to allow us to expand far beyond our current project pipeline. We want to be in every state where solar can be installed, and Gaz Métro’s backing can help us get there.
In addition, we’ve toyed with the idea of becoming an independent power producer over the past few years – our executives have been champing at the bit to do it—but we’ve been limited by the resources necessary to dive into that complicated market. If we didn’t have the money behind the effort, we weren’t going to do it. After all, our reputation is built on our success—a failure on that scale was never going to be an option.
Now we have the resources at our disposal that will allow us to take the plunge. Gaz Métro has the experience necessary to help us take our company beyond our traditional EPC role and into an exciting, dynamic future.
That’s what the acquisition of Standard Solar by Gaz Métro means. It means we’ll be serving our customers more effectively than ever before, with the resources to bring an expanded service base to the table.
And that’s why this deal allows all of us—Standard Solar, Gaz Métro, and our loyal customers—to get excited about the near- and long-term future.