Aspen Power, a distributed energy generation platform, announced the acquisition of two community solar projects with a total capacity of 6.85 MWdc located in Northampton, Pennsylvania, from Syncarpha Capital, a solar and storage distributed generation project developer.
Once operational, the ground-mounted projects are expected to produce approximately 9 million kilowatt-hours of renewable-based electricity annually. According to the industry estimates from the Solar Energy Industries Association, these projects will create about 130 jobs.
In addition to this acquisition, the company also acquired a 4 MWdc community solar project from High Peaks Solar in New York and two community solar projects totaling 13.9 MWdc in Illinois from Greenwood Sustainable Infrastructure earlier in September.
Further, Aspen Power announced the closing of a new tax equity facility with Monarch Private Capital in September to support the development of its solar project portfolio across New York, Illinois, and Pennsylvania. The company has secured a total of $66 million in tax equity commitments during the first eight months of 2025 with the closing of the latest transaction.
“As a long-term owner/operator of solar and storage projects, we’re selective about who we partner with when we choose to monetize shovel-ready projects. We chose Aspen Power because they are a reliable counterparty with strong financial backing and a proven ability to execute,” said Cliff Chapman, co-founder and CEO of Syncarpha Capital. “These transactions represent a fraction of Syncarpha’s organically developed Pennsylvania pipeline, and we look forward to continuing to play a significant role in expanding the state’s clean energy future.”
Aspen Power has over 100 MW of operating and under-construction projects across Pennsylvania, which targets to source 18% of its electricity from renewables by 2025.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
