Aspen Power, a distributed energy generation platform, has acquired the first five projects in a community solar portfolio spanning across New York and Illinois from Cipriani Energy Group, a renewable energy project developer.
The initial projects, located in New York’s North County and Capital District, total 19.9 MWdc and are expected to begin construction in the coming months. The remaining six projects are expected to close later this year, and with this, the combined capacity of the portfolio will be just over 51 MWdc.
The projects will be included in New York’s Value of Distributed Energy Resources (VDER) program, enabling subscribers to receive a discount on their utility bills.
“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.”
In February 2026, Aspen Power had also acquired the first two projects in an 18 MWdc portfolio of community solar projects located in upstate New York from CTEC Solar, a solar and energy storage project developer, engineering, procurement, and construction provider, and operations and maintenance provider. The company had closed a $200 million capital raise with Deutsche Bank earlier this year to execute its pipeline, attract more vendor engagement, and speed up project delivery.
Last year in September, Aspen Power acquired 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.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.
