Aspen Power Partners to Acquire 53MW of Community Solar Projects From Trajectory Energy Partners

Aspen Power Partners announced today it is acquiring 53 MW of community solar projects in Maryland and Pennsylvania from Trajectory Energy Partners. Trajectory Energy Partners will lead the development of the sites and Aspen will provide the financial support – approximately $96 million – and oversee the design, subscriber management and long-term ownership of the assets.

The portfolio consists of ten projects across the mid-Atlantic region. Four of the sites are in Maryland and will participate in the state’s pilot community solar program. The remaining six sites are in Pennsylvania and will be developed in advance of that state’s pending community solar legislation. Highlights from the portfolio include:

A community solar project with a historic church in Prince George’s County, Maryland;
A community solar project with a non-profit foundation working to preserve a historic site in Prince George’s County, Maryland; and
A community solar project on a reclaimed former coal mine in Clearfield County, Pennsylvania.

“We are very pleased to be working with a strong development partner like Trajectory. It is encouraging that we are expanding our geographical footprint, continuing to work with landowners to preserve their property for future generations, and advancing the energy transition,” said Dan Gulick, Partner at Aspen Power Partners.

Added Megan Strand, Partner and Co-Founder of Trajectory Energy Partners: “We are excited to partner with Aspen on such a significant portfolio of projects. Aspen brings a wealth of experience and resources to developing community solar projects. With Aspen’s financial backing, we can deliver projects that provide clean energy and local economic development to the surrounding communities.”

Aspen’s mission is to accelerate and democratize decarbonization. Through its new partnership with Trajectory, Aspen will expand access to clean distributed energy for consumers and businesses across all income levels. Along with the community solar projects in Maryland and Pennsylvania, Aspen is also developing community, multifamily, and commercial and industrial rooftop projects in California, Maine and New York.

Aspen was founded by David Berv, Scott Delaney, Dan Gulick, Jackson Lehr and Jorge Vargas with expertise across the development, construction, project finance and asset management disciplines. Collectively, the team has financed over $1 billion worth of renewable energy projects and has decades of experience across all stages of project development and ownership. Aspen was incubated at Energy Impact Partners, a leading global investor in the transition to a sustainable future.

Source: Business Wire