Commercial, Solar, Sourcing Renewables  -  July 28, 2023

First Interstate BancSystem Adds Oregon, Iowa Community Solar

First Interstate BancSystem, Inc. subscribed to two community solar gardens in Iowa and Oregon. 

Community solar gardens are solar projects built in partnership with utility providers to generate solar power close to where it is consumed by multiple subscribers.

“We’ve been searching for impactful ways to increase our sustainability efforts while continuing to demonstrate our commitment to the communities we serve,” said Kevin P. Riley, First Interstate’s president and CEO in a statement. “Participating in these community solar gardens helps us achieve both these goals.”

The Alliant Energy Community Solar–Cedar Rapids garden in Iowa, will enable First Interstate to offset 100% of Scope 2 emissions associated with the current electricity consumption in 19 of its 45 Iowa locations. The solar garden is currently under construction with energy production to begin in early 2024.

Burlingame Solar is a 2.1 megawatt alternating current (MWac) project being developed by Greenkey Development near the town of Brownsville, Oregon and will enable the bank to offset approximately 80% of Scope 2 emissions associated with the current electricity consumption in 22 of its 32 Oregon locations. Construction on the solar garden will start in Q1 2024 with energy production to commence in Q3 2024.

First Interstate is an anchor tenant and the first bank subscriber in each community solar garden, subscribing to 15% of the Alliant Energy Community Solar–Cedar Rapids garden and 22% of Burlingame Solar. First Interstate has made a 20-year commitment to both projects.

The projects will utilize renewable energy certificates (RECs) which are issued when one-megawatt hour (MWh) of electricity is generated and delivered to the power grid from a renewable energy source.

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