Aspen Power, a distributed generation platform with the dual mission of accelerating and democratizing decarbonization, acquired a portfolio of 15 ground-mounted community solar projects totaling 37 MW in Maine. The projects, ranging from 1.4 MW to 7 MW, are located across the state, from the southern region through Bangor.
One of the projects in Berwick, Maine, has already reached commercial operation, with a capacity of 2.36 MW solar generation, and is expected to produce enough electricity to prevent nearly 2,200 metric tons of CO2 from entering the atmosphere every year. That is the equivalent of 4,500 barrels of oil consumed or 380 homes of electricity use annually. Community solar subscribers in the state will use the energy produced by all the projects and support Maine’s goal of achieving 80% renewable energy by 2030.
“We are proud to be a part of Maine’s renewable energy transition and are committed to providing clean and sustainable energy solutions to our communities,” said Dan Gulick, Senior Vice President of Aspen Power. “We believe that acquiring these solar projects is an important step towards achieving that goal, and we look forward to bringing all of them online to benefit the communities they serve.”
“We are thrilled to have found a partner in Aspen Power who shares our vision for clean energy and sustainable communities. We look forward to seeing these projects come to fruition under their leadership,” said Clarke Fenner, the original developer of Aspen’s Maine portfolio and CEO of Senergy Solar Development.
According to Mercom’s Q1 2023 Solar Funding and M&A Report, there were 67 large-scale solar project acquisitions (13 disclosed for $3.6 billion) in Q1 2023, compared to 61 transactions (12 disclosed for $3.2 billion) in Q4 2022.
Ib vogt, a renewable energy project developer, recently agreed to sell the 149 MW Garnacha solar project in Spain to ERG, a renewable energy independent power producer. The Garnacha solar power project is located in the province of Zamora in Spain and is currently in an advanced stage of construction. Commercial operation is expected to begin by the end of 2023.