Aspen Power Partners LLC, a distributed technology platform, has obtained a $350 million funding from funds managed by world funding agency Carlyle.
The funding helps Aspen’s progress technique concentrating on the neighborhood, multifamily, and business and industrial (C&I) photo voltaic and storage markets. To launch this technique, Aspen has acquired Safari Energy LLC from PPL Corp.
Based in 2008, Safari has acquired or developed greater than 600 C&I photo voltaic initiatives nationwide. Spanning 24 states and Washington, D.C., Safari’s initiatives have generated greater than 893,000 MWh of electrical energy. Aspen has acquired Safari’s full growth platform, together with its 220 MW portfolio of working and under-construction distributed technology photo voltaic property.
“At Carlyle, we imagine investing in renewables contains investing throughout the worth chain. This contains investing in not solely giant utility scale renewable vitality property, but in addition neighborhood photo voltaic and distributed technology extra broadly,” says Pooja Goyal, chief funding officer of Carlyle’s Infrastructure Group. “We’re very enthusiastic about our partnership with Aspen and sit up for facilitating the expansion of their enterprise right into a distributed technology platform of scale.”
Combining Safari’s platform and property with Aspen’s neighborhood photo voltaic portfolios and multifamily photo voltaic pipeline will create a diversified distributed technology unbiased energy producer. Aspen will proceed to help Safari’s solutions-oriented service mannequin and expects to broaden the mixed firm’s flexibility to satisfy clients’ evolving wants throughout the historically underserved distributed technology market.
