PR83152

ARDMORE, Pa., Mar. 6, 2020 /PRNewswire=KYODO JBN/--

Grasshopper Solar, a global developer and asset owner headquartered in Canada,

announced today the acquisition of a 278 MWdc portfolio of solar projects in

Pennsylvania from Glidepath Ventures, a leading clean energy focused

development and investment firm.

Glidepath Ventures originated the distributed generation portfolio totaling 12

projects between 2017-2019 and under the transaction will complete development,

interconnection and permitting with anticipated commercial operation dates in

2020, 2021, and 2022. Grasshopper Solar will be the long-term owner-operator

and will lead power marketing, funding, including equity, debt and tax equity,

EPC, and operations. Once operational, the portfolio will nearly double the

amount of solar assets currently operating in Pennsylvania.

"Since 2017 Glidepath Ventures has developed more than 2GW of early stage

project opportunities in PJM and other burgeoning markets," said Geoffrey S.

Underwood, a Partner of Glidepath Ventures. "Glidepath is pleased to leverage

its scaled-origination platform with Grasshopper Solar".

"Grasshopper Solar is a global company that has successfully developed, owns

and operates significant portfolios of solar energy projects in various markets

around the world" said Jonathan Persaud, Grasshopper Solar's Chief Development

Officer. "Part of our investment strategy in the United States is to continue

expanding into markets with local partnerships to further promote the

development of renewable energy in these jurisdictions. We are excited to be

entering the PJM market, which we believe has stable characteristics for

ongoing solar development. These projects will provide environmental and

economic benefits, while promoting more job opportunities for the American

people in the state of Pennsylvania."

Redwood Energy served as financial advisor on the transaction. Orrick served as

legal advisor to Grasshopper Solar. Greene Hurlocker served as legal advisor to

Glidepath Ventures.

About Glidepath Ventures

Glidepath Ventures is an early-stage energy project development firm. Founded

in 2017 and headquartered in Ardmore, Pennsylvania, Glidepath Ventures focuses

on scaled, origination and development of renewable energy and energy storage

projects in multiple markets in the United States. For more information, please

visit www.glidepathventures.com

About Grasshopper Solar

Grasshopper Solar is a global developer and asset owner headquartered in

Canada. Founded in 2007 by Azeem M. Qureshi, it currently owns $1.8 billion of

assets and has a development pipeline of $6.5 billion in various countries

around the world. Grasshopper Solar has been the recipient of multiple national

industry awards including Solar Innovator of the Year, Project Finance

Innovator of the Year and Solar Developer of the Year. For more information,

please visit www.grasshoppersolar.com

Abby Hage, Office:

+1-416-477-0726 x 134

Email: abby.hage@grasshoppersolar.com

5935 Airport Road, Suite 210, Mississauga, ON L4V 1W5

SOURCE: Grasshopper Solar