What Aspen Power does

Aspen Power Partners LLC is a privately held, PE-backed distributed generation solar platform headquartered in New York City that develops, finances, owns, and operates community solar, commercial and industrial (C&I) rooftop, parking canopy, ground-mounted solar, battery storage, and EV charging assets across 26 U.S. states. The company combines in-house project development, project finance, construction oversight, and long-term ownership/operations under a single platform, supplemented by a wholly-owned subsidiary, Safari Energy, LLC (acquired from PPL Corporation in November 2022), which contributes a commercial solar development book spanning 24 states plus Washington, D.C.

Aspen Power monetizes solar assets through a mix of long-term Power Purchase Agreements (PPAs) with C&I and public-sector offtakers, 20–30 year land and roof leases (typically $700–$1,200 per acre annually, up to $3,000 in certain states), community solar subscriber revenues (managed in partnership with firms such as Common Energy), and developer-facing project financing and asset buybacks. The platform applies in-house AI/ML and automation tooling — including rooftop evaluation models, OCR-based document analysis, automated project estimating, geospatial scoring, and asset management decision-tree scripts — to compress evaluation cycles and improve conversion on complex C&I sites. GTM is enterprise field sales to property owners, developers, municipalities, and landowners, supplemented by a developer-origination channel that has funded 100+ third-party projects.

Revenue mechanics are anchored in long-duration recurring cash flows (20–30 year PPAs and leases) supplemented by transaction-based income from tax credit monetization (Investment Tax Credit transfers initiated in September 2024 and tax equity partnerships with Monarch Private Capital and Foss & Company), construction-to-term debt, and portfolio acquisitions. Capital structure is supported by The Carlyle Group as flagship investor ($350M in November 2022 plus a February 2025 follow-on), with $700M+ of cumulative project-level debt and tax equity commitments from JPMorgan, MUFG, Lombard Odier, BMO, Deutsche Bank, First Citizens, Monarch Private Capital, and Foss & Company. Customer segments are diversified across C&I property owners (e.g., Extra Space Storage, Chevron, Nuveen Real Estate, The Michaels Organization), solar developers (Syncarpha, Cipriani, GSI, Ecogy, High Peaks, ECA, Sunrise, Senergy, Arrow, Trajectory), community solar subscribers, landowners, and public-sector entities.

Name

Aspen Power

Legal name

Aspen Power Partners LLC

Website

https://aspenpower.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Aspen Power is a PE-backed distributed generation solar platform that develops, finances, owns, and operates community, C&I, multifamily, and storage assets across 26 U.S. states, serving property owners, developers, landowners, and subscribers through PPAs, leases, and developer financing.

Ownership category

akta.pro rank

Product category

Distributed Solar Generation

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Community Solar Development & Subscription Management (EUAMAJAA)

akta.pro secondary industry

Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

Keywords

• Distributed solar generation
• Commercial and industrial solar
• Community solar development
• Solar project financing
• Battery storage solutions

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Long-Term Solar Land & Roof Leases: Recurring lease payments to landowners and building owners who host Aspen Power solar projects on their property; typical lease term 20-30 years with rates of $700-$1,200 per acre annually (up to $3,000 in certain states).
2. Power Purchase Agreement (PPA) Electricity Sales: Third-party-owned solar systems where customers purchase electricity at discounted rates via long-term PPAs; Aspen retains ownership and tax benefits while passing energy savings to the host.
3. Community Solar Subscriber Revenue: Revenue from community solar subscribers receiving a discount on prevailing utility rates; managed in partnership with subscriber management firms such as Common Energy.
4. Solar Asset Buyback / Portfolio Acquisitions: Capital deployment to acquire existing operating or shovel-ready solar portfolios from developers and property owners; assets are then owned, optimized, and operated by Aspen Power for long-term returns.
5. Tax Credit Monetization (ITC Transfer & Tax Equity): Monetization of federal solar Investment Tax Credits via direct ITC transfer deals (e.g., first ITC transfer with Dan Kalafatas across California/New York projects) and tax equity partnerships (Monarch Private Capital, Foss & Company).
6. Project Financing / Development Services: Fee-based and structured-capital financing of third-party solar projects at any stage of development; backstops projects from early stage through construction to long-term ownership.
7. Solar-Plus-Storage and EV Charging Equipment / System Sales: Sale and ownership of integrated battery storage and EV charging systems bundled with solar installations to commercial, multifamily, and public-sector customers.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Aspen Power is a distributed generation solar platform that develops, finances, owns, and operates commercial & industrial rooftop solar, ground-mounted solar, solar parking canopies, battery storage, and EV charging assets across 26 U.S. states. The company structures deals through long-term Power Purchase Agreements (PPAs), 20-30 year land and roof leases, community solar subscriptions, and tax credit monetization, while also providing flexible project financing and asset buyback to independent solar developers.

Product overview

Aspen Power offers a unified distributed generation platform built around three core services — Project Financing, Solar Development, and O&M and Project Optimization — supported by a portfolio of technology offerings (Commercial & Industrial Rooftop Solar, Solar Parking Canopies, Ground Mounted Solar, Battery Storage, EV Charging, and an internal Artificial Intelligence / Machine Learning capability) and segmented across market-focused services (Community Solar, Commercial & Industrial, Solar Developers, Public Sector, and Land Lease). The platform combines in-house development with a developer-friendly financing and buyback program and operates the Safari Energy subsidiary acquired from PPL Corporation in 2022.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Development End-to-end development services including engineering, procurement, construction, financing, permitting, interconnection, subscriber management, and long-term ownership of solar assets for C&I property owners, developers, and public sector entities.
• Project Financing Project finance services structuring capital for distributed solar and storage, including construction-to-term loans, revolving credit facilities, and tax equity arrangements with partners such as JPMorgan, MUFG, Deutsche Bank, BMO, Lombard Odier, Monarch Private Capital, and Foss & Company.
• O&M and Project Optimization Operations, maintenance, and optimization services for operating solar and storage assets, including performance monitoring, asset management automation, decision-tree analytics, and enhancement of distributed generation portfolios.
• Community Solar Community solar projects enabling subscribers (including low- and moderate-income households and small businesses) to access clean energy benefits via state programs such as NY VDER, Massachusetts SMART, and Illinois CEJA.
• Commercial & Industrial (C&I) Solar End-to-end solar solutions for commercial and industrial customers, including rooftop, parking canopy, ground mount, and battery storage systems, with financing and PPA structures.
• Public Sector Solar Solar development, ownership, and operation services for public-sector entities such as municipalities, schools, and transit authorities.
• Land Lease Program Program that pays landowners to lease land for solar projects, providing decades of predictable cashflow while preserving ownership. Lease rates typically range from $700 to $1,200 per acre annually, with some markets exceeding $3,000.
• Commercial & Industrial Rooftop Solar

Quantifiable outcome

• Over 600 renewable energy projects developed or acquired across 26 states
• +7 more outcomes

Named customers17 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature8 records

Partnerships

17 partnerships are on record, tiered core, minor and flagship.

• Cipriani Energy GroupcoreStrategic or Co-development Partner · 1 March 2026Aspen Power announced acquisition of a five-project community solar portfolio from Cipriani Energy Group across New York and Illinois totaling just over 51 MWdc, with initial NY projects expected to generate nearly 29 million kWh annually and participate in NY's VDER program.
• CTEC SolarminorStrategic or Co-development Partner · 1 February 2026Aspen Power acquired the first two projects (totaling 7 MW) from an 18 MWdc portfolio of community solar projects in upstate New York from CTEC Solar in February 2026; expected to generate approximately 10M kWh in first year and participate in NY's VDER program.
• Ecogy EnergycoreStrategic or Co-development Partner · 1 September 2025Aspen Power acquired two community solar projects in New Jersey (Millville and Ocean Township) from Ecogy Energy totaling just over 1 MWdc in September 2025; projects expected to produce over 1.1M kWh in their first year across Atlantic City Electric and Jersey Central Power & Light utility territories.
• High Peaks SolarcoreStrategic or Co-development Partner · 1 September 2025Aspen Power acquired a 4 MWdc community solar project near Albany, NY from High Peaks Solar in September 2025; project will participate in NY's VDER program and is expected to generate up to 5.3 million kWh in its first year.
• Syncarpha CapitalcoreStrategic or Co-development Partner · 1 September 2025Aspen Power closed on two ground-mounted solar projects in Northampton, PA totaling 6.85 MWdc from Syncarpha Capital — first closings under an 18 MWdc portfolio contract; expected to generate ~9M kWh annually powering 800+ homes and create approximately 130 jobs.
• Greenwood Sustainable Infrastructure (GSI)coreStrategic or Co-development Partner · 1 September 2025Aspen Power acquired 13.9 MW of community solar projects (Grafton and Rochester, IL) and a 23 MWdc community solar portfolio in NY from Greenwood Sustainable Infrastructure (GSI), part of a larger portfolio spanning IL and NY.
• Arrow Solar Development LLC (BOW Energy Holdings)minorStrategic or Co-development Partner · 1 March 2025Aspen Power closed a Membership Interest Purchase and Development Services Agreement (MIPDSA) on a 14.1 MWdc community solar portfolio in Illinois from Arrow Solar Development LLC in March 2025; Aspen brings projects from early-stage development through long-term operation.
• Common EnergycoreStrategic or Co-development Partner · 1 May 2024Aspen Power partnered with Common Energy in May 2024 to subscribe and manage community solar projects in Illinois, allowing local households to opt into the community solar program and save money on electricity bills while lowering emissions.
• Sunrise EnergycoreStrategic or Co-development Partner · 1 May 2023Aspen Power acquired an initial 10 ground-mounted solar projects in NW Pennsylvania totaling 42 MWdc from Sunrise Energy in May 2023, with 6 sites (25.5 MWdc) completed in July 2024; part of an 84 MWdc portfolio and Aspen's multi-hundred MW Pennsylvania strategy.
• The Michaels OrganizationcoreStrategic or Co-development Partner · 1 May 2023Aspen Power completed its initial rooftop PV project with The Michaels Organization at a new multifamily complex in Davis, CA in May 2023 — first in a pipeline of programmatic multifamily projects; satisfies California Title 24 requirements, expected to produce ~476,500 kWh in first year offsetting ~20% of building energy needs.
• Senergy Solar DevelopmentminorStrategic or Co-development Partner · 1 May 2023Aspen Power acquired a 15-project, 37 MWdc ground-mounted community solar portfolio in Maine from original developer Clarke Fenner / Senergy Solar Development in May 2023 to support Maine's 80% renewable energy by 2030 goal.
• PPL CorporationflagshipStrategic or Co-development Partner · 1 November 2022Counterparty in the November 2022 sale of Safari Energy from PPL Corporation to Aspen Power — one of the industry's largest distributed solar C&I transactions to date — bringing 600+ projects, 220 MW portfolio, and the Safari Energy development platform into Aspen.
• Safari EnergyflagshipStrategic or Co-development Partner · 1 November 2022Acquired by Aspen Power from PPL Corporation in November 2022; Safari Energy is now an Aspen Power subsidiary serving as the C&I solar partner of choice for real estate owners, public sector organizations, and solar developers. Safari brought 600+ commercial solar projects across 24 states and Washington D.C., generating >893,000 MWh and avoiding >632,000 metric tons of CO2 emissions.
• Trajectory Energy PartnerscoreStrategic or Co-development Partner · 1 April 2022Aspen Power acquired 53 MW of community solar projects in Maryland and Pennsylvania from Trajectory Energy Partners in April 2022. Trajectory leads development of the sites while Aspen provides ~$96M financial support, oversees design, subscriber management and long-term ownership.
• Nuveen Real EstatecoreStrategic or Co-development Partner · 1 November 2021Nuveen Real Estate partnered with Safari Energy (now Aspen Power) in November 2021 to develop on-site solar and storage resources across its 30M+ sq ft U.S. real estate portfolio; Aspen uses proprietary AI platform to screen 300+ MW of solar potential and provides bespoke technology platform for Nuveen teams.
• ECA SolarminorStrategic or Co-development Partner · 1 September 2021Aspen Power (via Safari Energy) acquired six Massachusetts solar projects (rooftop, carport, ground-mount) from ECA Solar in the Greater Boston area (Canton, Sharon, Woburn), benefiting from the SMART incentive program; expected to produce up to 5.6M kWh annually.
• Extra Space Storage (NYSE: EXR)coreStrategic or Co-development Partner · 1 January 2020Safari Energy (Aspen Power subsidiary) reached its 100th solar project with Extra Space Storage in January 2020 — spanning 13 states and more than 10 MW of capacity, producing 33 GWh of solar power to date; multi-year partnership across the self-storage portfolio.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Lightsource bp: Global solar developer with a growing U.S. community solar and C&I presence; comparable in offering integrated solar-plus-storage development, financing, and ownership.

Direct peers

• Pine Gate Renewables: Developer and owner-operator of utility-scale and distributed solar plus storage with project financing infrastructure; competes with Aspen for developer-portfolio acquisitions and community solar development.
• Cypress Creek Renewables: Large U.S. developer, owner, and operator of distributed solar and storage projects with a comparable community solar and C&I focus. Aspen's incoming CCO joined from Cypress Creek's 2.5 GW asset management team, underlining the close comparability of business models.
• Altus Power: Public C&I and community solar IPP operating a similar developer-friendly financing, ownership, and operations model. Direct competitor for C&I rooftops, community solar projects, and developer-portfolio acquisitions in overlapping U.S. states.
• Nautilus Solar Energy: Developer and owner-operator of community solar projects across the U.S., with a similar project acquisition, tax equity, and long-term ownership model targeting the same state programs (NY VDER, MA SMART, IL CEJA).
• Silicon Ranch: One of the largest U.S. independent solar power producers, focused on utility-scale and community solar with long-term ownership; comparable in financing flexibility and turnkey development approach.
• Dimension Energy: Independent distributed solar developer and owner-operator with a community solar and C&I focus and project financing partnerships with regional developers, directly comparable to Aspen's developer-origination model.

Broad incumbents

• Engie Distributed Solar: Global utility and renewable energy major with a U.S. distributed generation business covering C&I, community solar, and storage; broader portfolio but overlaps in target customer segments and project types.
• Brookfield Renewable (Luminace): Global renewable IPP whose distributed generation arm (Luminace) targets C&I solar and behind-the-meter solutions; broader portfolio but overlapping customer base and solution set with Aspen Power.
• Clearway Energy Group: Publicly traded renewable IPP with a sizable distributed and community solar portfolio alongside utility-scale assets; competes for community solar pipelines and C&I assets at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks3 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aspen-power-partners

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspen Power