Aspen Power, a leading distributed generation platform building the clean energy future, today (March 12) announced the acquisition of the first five projects in a community solar portfolio from Cipriani Energy Group spanning New York and Illinois. The initial projects, totaling 19.9 megawatts direct current (MWdc) and located in New York's North Country and Capital District, are expected to begin construction in the coming months, with an additional six projects expected to close later this year, bringing the total portfolio capacity to just over 51 MWdc.
Once operational, the first five projects are expected to generate nearly 29 million kilowatt-hours of electricity in their first year, equivalent to the annual electricity use of approximately hundreds of homes. The projects will participate in New York's Value of Distributed Energy Resources (VDER) program, enabling subscribers to receive a discount on their utility bills while supporting grid reliability and local clean energy generation.
"Community solar remains one of the most effective tools for expanding access to clean energy while helping customers manage rising energy costs," said Dan Gulick, Executive Vice President, Community Solar and Asset Acquisition at Aspen Power. "These projects reflect the type of disciplined development and market fundamentals we look for as we continue to scale our community solar portfolio across key states."
"We're pleased to partner with Aspen Power on this portfolio and move these projects into construction," said Juan Urquidi, Co-CEO of Cipriani Energy Group. "Our focus is on developing and constructing reliable, high-quality community solar projects in markets where they can deliver real long-term value for subscribers, utilities, and host communities. Aspen Power's experience and long-term ownership approach make them a strong partner as these projects advance."
This transaction builds on Cipriani Energy Group's development and construction expertise and Aspen Power's operational and financial capabilities, supporting the expansion of community solar across New York and Illinois while delivering long-term economic and environmental benefits to local communities.
About Aspen Power
Aspen Power is a distributed energy generation platform with the dual mission of accelerating and democratizing decarbonization. We partner with businesses, communities, and others in the industry to develop, construct, own and operate renewable energy assets. Our experienced team is passionate about solving our clients' energy challenges to deliver a sustainable future throughout the U.S. For more information, please visit aspenpower.com.
About Cipriani Energy Group
Cipriani Energy Group is a renewable energy company focused on the origination, development, and construction of energy projects. With more than 20 years of experience, the company and its affiliated organizations have developed over 860 MW of solar capacity across the United States and Latin America.
Cipriani Energy Group works closely with landowners, utilities, municipalities, and strategic partners to deliver reliable clean energy solutions while creating long-term economic value for local communities and supporting sustainable economic growth across the U.S.
For more information, visit ciprianienergyus.com.
MEDIA CONTACT
Aspen Power
Darius Razgaitis
646-465-8114
media@aspenpower.com
