Aspen Power will acquire a 51-megawatt (MW) community solar portfolio from Cipriani Energy Group across New York and Illinois, expanding its distributed generation pipeline in two of the most active U.S. community solar markets.
The deal includes 11 projects under development, with an initial tranche of five sites totaling 19.9 MW in New York expected to begin construction in the coming months. Additional projects in New York and Illinois are scheduled to close later this year.
Aspen Power, a distributed solar platform backed by The Carlyle Group, said the acquisition will strengthen its presence in community solar, an ownership model that allows households and businesses to subscribe to local solar farms and receive bill credits without installing rooftop systems.
Financial terms of the transaction were not disclosed.
The deal underscores continued consolidation in the U.S. distributed solar sector as developers seek scale in states with supportive policies, particularly New York and Illinois, two of the country’s largest community solar markets.