Aspenall Energies

What Aspenall Energies does

Aspenall Energies is a Minneapolis-based private renewable energy company that develops, owns, and operates mid-scale wind generation projects in the U.S. Midwest. Founded in 2007 and operating as a subsidiary of Treehouse Investments, LLC (a boutique climate-focused infrastructure firm), the company manages a portfolio of five wind farms totaling more than 100 MW across Minnesota (Grant County, Jackson County, Watonwan & Cottonwood Counties) and Nebraska (Kimball County). Project sizes range from 13.8 MW to 30 MW, and the company has historically targeted projects under 80 MW while now actively evaluating projects up to 150 MW. Electricity is sold under 20-25 year Power Purchase Agreements to a small set of utility and municipal off-takers, including Northern States Power (Xcel Energy), Muscatine Power and Water, the Municipal Energy Agency of Nebraska (MEAN), and Missouri River Energy Services (MRES).

Aspenall's technology stack centers on Suzlon S88 turbines and GE Renewable Energy units (GE 2.3 MW and 2.5 MW at 116m rotor diameter), with projects connecting to the distribution grid to serve rural host communities. The company has developed proprietary expertise in turbine repowering — replacing older Suzlon S88 turbines with newer, larger-diameter GE equipment while retaining existing balance-of-plant infrastructure. The June 2022 Ewington Wind repower in Jackson County, Minnesota represents the first commercial repowering of a Suzlon project with GE equipment, increased project capacity to approximately 20 MW, and is supported by a 20-year GE Full Service Agreement. The repowered Ewington facility produces approximately 87,000 MWh of clean electricity annually.

Revenue is generated primarily through long-term contracted electricity sales under PPAs, supplemented by project development services for greenfield and repowering initiatives and capital deployment through the parent company. Pricing is privately negotiated per PPA and not publicly disclosed. The go-to-market model is sales-led, anchored by direct utility contracting, supported by memberships in industry groups (Clean Power, ESIG, ACORE, CEEM), white-paper content marketing, and active community engagement with landowners and local governments. With 11-50 employees and a leadership team spanning a CEO, COO, Chief Development Officer, Chief of Staff, and multiple Managing Directors, Aspenall operates with a lean organizational structure typical of a mid-market independent power producer.

Name

Aspenall Energies

Legal name

Aspenall Energies (Delaware), LLC

Website

https://aspenall.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Aspenall Energies is a Minneapolis-based private renewable energy company that develops, owns, and operates mid-scale (under 80 MW) wind projects in the U.S. Midwest, selling electricity under 20-25 year PPAs to utilities and municipal energy agencies.

Ownership category

akta.pro rank

Product category

Wind Power Generation

NAICS

Wind Electric Power Generation (221115), Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE), Wind Operations, Maintenance & Asset Management (Scheduled/Unscheduled) (EUAMACAH), Onshore Wind Power Generation (Utility-Scale) (EUACAFAA)

Keywords

• Wind power generation
• Renewable energy projects
• Wind farm development
• Power purchase agreements
• Turbine repowering services

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Power Purchase Agreements (PPAs): Long-term Power Purchase Agreements with utilities for the electricity generated from wind projects. The company negotiates 20-25 year PPAs with off-takers like Xcel Energy and others, providing stable, long-term revenue.
2. Wind Energy Generation and Sale: Operating wind farms that generate electricity sold under PPAs to utilities including Northern States Power, Muscatine Power and Water, Municipal Energy Agency of Nebraska, and Missouri River Energy Services.
3. Project Development: Developing new (greenfield) wind projects and repowering existing projects to extend their operational life and increase capacity.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Aspenall Energies develops, owns, and operates mid-scale (historically under 80 MW, currently evaluating up to 150 MW) decentralized wind energy generation projects in the U.S. Midwest. The company operates five wind farms (Grant County, South Fork, Kimball, Ewington, and Odin) totaling over 100 MW, selling the generated electricity to utilities and municipal energy agencies under 20-25 year Power Purchase Agreements. The company also provides project development services, including greenfield development and turbine repowering expertise.

Product overview

Aspenall Energies is a private renewable energy company that develops, owns, and operates a portfolio of mid-scale wind energy projects in the Midwest. The company's operating portfolio consists of five named wind farms: Grant County Wind (21 MW), South Fork Wind (13.8 MW), Kimball Wind (30 MW), Ewington Wind (22.5 MW), and Odin Wind (21 MW). The company historically targeted projects under 80 MW and is currently evaluating projects up to 150 MW. Projects utilize either Suzlon S88 or GE Renewable Energy turbines and connect to the distribution grid to serve rural communities and utilities including Northern States Power, Muscatine Power and Water, Municipal Energy Agency of Nebraska, and Missouri River Energy Services.

Differentiator

Problem solved

Functional benefit

Products and services

• Grant County Wind A 21 MW wind energy project located in Grant County, Minnesota, featuring Suzlon S88 turbines that achieved commercial operation in August 2010, with power sold to Northern States Power under a long-term PPA.
• South Fork Wind A 13.8 MW wind energy project located in Jackson County, Minnesota, featuring GE 2.3 MW 116m turbines that achieved commercial operation in December 2016, with power sold to Muscatine Power and Water under a long-term PPA.
• Kimball Wind A 30 MW wind energy project located in Kimball County, Nebraska, featuring GE 2.5 MW 116m turbines that achieved commercial operation in June 2018, with power sold to Municipal Energy Agency of Nebraska (MEAN) under a long-term PPA.
• Ewington Wind A 22.5 MW wind energy project located in Jackson County, Minnesota, featuring GE 2.5 MW 116m turbines that achieved commercial operation in June 2022 following a repower from original Suzlon S88 turbines, with power sold to Northern States Power (Xcel Energy) under a 25-year PPA. The project provides approximately 87,000 MWh of clean electricity annually.
• Odin Wind A 21 MW wind energy project located in Watonwan and Cottonwood Counties, Minnesota, featuring Suzlon S88 turbines that achieved commercial operation in May 2008, with power sold to Missouri River Energy Services (MRES) under a long-term PPA.

Quantifiable outcome

• Over 100 MW of operating renewable energy generation capacity
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• GE Renewable EnergycoreTechnology or Integration · 1 September 2022Technology partner for turbine repowering. GE provided newer, larger diameter wind turbines with latest technology for the Ewington Wind repower project. Includes 20-year Full Service Agreement for repowered turbines.
• BoldtminorImplementation/ SI/ Consulting Partner · 1 July 2021Construction partner for Ewington Wind repower project. Undertook construction beginning July 2021 using local trade unions as required by the PPA.
• Xcel EnergycoreChannel Partner/ Reseller/ Distributor · 1 November 2020Key utility customer and PPA partner. Negotiated 25-year power purchase agreement with Xcel Energy for Ewington Wind project as part of Minnesota PUC recovery initiative.
• Clean PowercoreStrategic or Co-development PartnerIndustry group membership and collaboration. Clean Power is a renewable energy industry organization that Aspenall participates in for sector collaboration and knowledge sharing.
• ESIG (Energy Systems Integration Group)coreStrategic or Co-development PartnerIndustry group focused on energy systems integration. Aspenall collaborates with ESIG to stay informed on sector developments and best practices.
• ACORE (American Council on Renewable Energy)coreStrategic or Co-development PartnerNational nonprofit organization coordinating the deployment of renewable energy. Aspenall participates as a member for industry collaboration and policy engagement.
• CEEM (Clean Energy Economy Minnesota)coreStrategic or Co-development PartnerRegional industry group promoting clean energy economy in Minnesota. Aspenall collaborates locally with this organization as a Minneapolis-based company.
• LandownerscoreStrategic or Co-development PartnerEssential partners who provide land for wind turbine installation through long-term lease arrangements, particularly important for decentralized project model serving rural communities.
• DevelopersminorChannel Partner/ Reseller/ DistributorWork with developers for project development and origination in the Midwest wind energy market.
• Jackson County GovernmentminorStrategic or Co-development PartnerLocal government partnership for Ewington Wind project in Jackson County, Minnesota. Project provides economic benefits to the county and local community.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Innergex Renewable Energy: IPP that owns and operates renewable generation facilities (wind, hydro, solar) under long-term PPAs across North America and Europe. Compares to Aspenall on the develop/own/operate model, mid-scale project sizing, and recurring contracted-revenue streams.
• Geronimo Energy: Midwestern-focused utility-scale wind developer and owner-operator of wind farms sold under PPAs. Highly comparable to Aspenall on geography (Minnesota, regional US), project scale, and develop-and-hold IPP business model.
• Apex Clean Energy: US-based developer, owner and operator of utility-scale wind and solar projects sold under long-term PPAs to utilities. Closely matches Aspenall's develop/own/operate IPP model and midwestern project footprint, though at significantly larger scale.
• Scout Clean Energy: Omaha-based utility-scale wind and solar developer with strong Midwestern project pipeline, similar IPP structure selling long-term PPA power to utilities and municipalities. Directly comparable on regional focus, project size, and PPA-led revenue model.

Broad incumbents

• EDP Renewables North America: North American subsidiary of EDP Renewables, one of the world's largest wind energy operators. Competes with Aspenall in US wind development and PPA-based electricity sale, but at significantly larger scale with broader geographic and technology mix.
• Pattern Energy: Wind and transmission-focused IPP that develops, owns and operates utility-scale wind projects under long-term PPAs in the US, Canada and other markets. Directly comparable on wind IPP model, with broader portfolio scale post-Brookfield acquisition.
• NextEra Energy Resources: Largest US wind and solar operator and a subsidiary of NextEra Energy, with a multi-tens-of-GW portfolio under long-term PPAs with utilities. Overlaps with Aspenall in wind project development/ownership and PPA sales, but at dramatically larger scale and with corporate backing that smaller peers lack.
• Invenergy: One of the largest US privately-held developers, owners and operators of wind, solar and storage projects sold via PPAs. Comparable in that it also develops/owns/operates wind under long-term contracts, though with a much larger and more diversified portfolio.
• EDF Renewables North America: North American arm of EDF Renewables operating a multi-GW wind and solar portfolio under PPAs with utilities and corporates. Overlaps Aspenall in wind project development and PPA-based sales, but at substantially larger scale and broader geographic scope.
• Clearway Energy Group: Publicly-traded renewables operator with a large fleet of wind and solar assets under long-term PPAs. Overlaps with Aspenall in wind asset ownership and contracted revenue model, but operates at far larger scale and across multiple geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Aspenall
• Facebookfacebook.com/Aspenall
• LinkedInlinkedin.com/company/aspenall-energies

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Aspenall Energies