Milestone achieved through developing and acquiring diverse C&I, public sector, warehouse, and community solar projects across the Commonwealth
NEW YORK, April 27, 2023 – Leading US distributed energy company Aspen Power announced that the company has developed or acquired more than 100 solar projects in Massachusetts. Following Aspen Power’s acquisition of Safari Energy in 2022, the company’s footprint in the state now totals 36.5 megawatts (MW) of capacity with 90,790 megawatt-hours (MWh) of electricity produced to date. That’s the equivalent of the electricity use of more than 12,000 homes per year or avoiding more than 64,000 metric tons of carbon dioxide emissions from entering the atmosphere.1
“The Commonwealth’s ambitious, coordinated climate policy leadership has made it a key focal point of our development strategy and aligns well with our dual mission to accelerate and democratize decarbonization,” said Jackson Lehr, Co-Founder & CFO of Aspen Power. “The SMART Program in particular continues to promote development in a way that benefits diverse stakeholders and supports the continued deployment of local, clean energy.”
The Solar Massachusetts Renewable Target (SMART) program, which provides financial incentives directly to solar system owners, has resulted in an especially strong market for C&I solar across the state. SMART incentives have also made Massachusetts an attractive market for community solar and increased access to clean, renewable energy for many low-moderate income (LMI) communities across the state.
Notable Projects in Massachusetts
Aspen Power’s Massachusetts portfolio includes a diverse array of solar projects ranging in size, deal structure, and technology type. Among the 100 projects developed or acquired in Massachusetts, the largest is a 3.4 MW multi-phase solar rooftop and solar parking canopy project at the Natick Mall. Another distinctive project in Canton, MA is unique because it includes three different types of solar technologies – a rooftop array, parking canopy, and ground mount system – all in one project totaling 1.6 MW. Aspen continues to develop new projects throughout the state, including a ground-mounted community solar array expected to come online in 2024.
Aspen Power serves a variety of market segments in Massachusetts, with customers consisting of commercial and industrial businesses, public sector entities, retail centers, warehouse and storage facilities, and community solar subscribers. Aspen’s projects in the state range from community centers like the Boys and Girls Club in Newton, to ice rinks and apartment buildings in Stoneham and Ashland; there are solar installations at schools ranging from elementary level to universities like Tufts, as well as fitness centers, transit authorities and more. These diverse projects span multiple utility service territories including Eversource and National Grid. You can see more of these projects in the MA Project Gallery on our website.
To date, Aspen Power has developed or acquired more than 600 projects nationwide from Maine to Hawaii. Backed by global investment firm Carlyle, Aspen is one of the largest distributed generation independent power producers (IPPs) in the country, adding more than 50 staff and 220+ MW of operating assets to its portfolio through its acquisition of Safari Energy in 2022. Aspen’s early-stage project expertise, flexible financing solutions, and customer-centric approach continue to lead the company to new industry milestones such as this one and solidify it as a leader in the distributed generation space.
To learn more, visit Aspen Power’s new website at www.aspenpower.com.
About Aspen Power
Aspen Power is a distributed energy generation platform with the dual mission of accelerating and democratizing decarbonization. We partner with businesses, communities, and others in the industry to develop, construct, and operate renewable energy assets. Our experienced team is passionate about solving our customers’ energy challenges to deliver a sustainable future throughout the U.S. For more information, please visit aspenpower.com.
1 Data from the U.S. EPA’s Greenhouse Gas Calculator.