News | May 1, 2024

Aspen Power To Acquire Community Solar Portfolio In Illinois

Initial portfolio of 20 community solar projects continues Aspen Power’s mission to expand access to solar throughout the United States

Aspen Power, a distributed generation platform with the mission of accelerating and democratizing decarbonization, announced today that it is partnering with a developer to acquire 20 community solar projects up to 19 megawatts (MW), primarily in Illinois. The portfolio consists of projects in various stages, including projects already in construction and set to be commissioned this year.

“We are excited to announce plans to acquire these solar projects in Illinois. Expanding Aspen’s geographical portfolio plays a significant role in advancing decarbonization and increasing access to green energy in new communities,” said Dan Gulick, Senior Vice President, Community Solar, Aspen Power.

Community solar has expanded in Illinois in recent years under the Climate and Equitable Jobs Act (CEJA). CEJA includes strategies to make solar energy more accessible to low- and moderate-income communities. Aspen Power’s acquisition reflects the positive market conditions in the state, resulting from continued policy support.

This acquisition continues the expansion of states where Aspen Power owns and operates community solar projects. With the addition of the Illinois portfolio, Aspen currently owns and operates community solar projects across five states with community solar programs: Maine, New York, Maryland, and California. Nationwide, Aspen has developed or acquired hundreds of solar projects spanning 24 states.

Aspen has partnered with Common Energy to subscribe and manage the community solar projects. Local households can opt into the community solar program and save money on their electricity bills while simultaneously lowering emissions.

“We are excited to partner with Aspen Power on this portfolio,” said Richard Keiser, Founder and CEO, Common Energy. “These projects will bring real economic benefits to Illinois residents and low-income families, and real environmental benefits to the broader community,” he added.

With the goal of reaching gigawatt scale by mid-decade, Aspen Power is committed to advancing the transition to a more sustainable energy future nationwide, across the spectrum of distributed generation. These projects help increase renewable energy production, promote clean energy jobs and reduce greenhouse gas emissions.

Source: Aspen Power