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Aspen Power acquires two community solar projects in New Jersey

Aspen Power has finalised the acquisition of two community solar projects totalling over 1 MWdc in New Jersey, developed by Ecogy Energy, with construction expected to begin shortly.

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US-based Aspen Power has announced the completion of its acquisition of two community solar projects located in Millville and Ocean Township, New Jersey. The two facilities, with a combined capacity of over one megawatt in direct current (MWdc), were developed by Ecogy Energy and are expected to begin construction in the near future.

Estimated annual output of over 1.1 mn kWh

Initial forecasts indicate that the two projects should generate more than 1.1 million kilowatt-hours (kWh) in their first year of operation. This output equates to the energy required to charge more than 64 million smartphones. The facilities will be connected to the distribution networks of Atlantic City Electric and Jersey Central Power & Light and will offer subscribers rates below those of traditional utilities.

Multi-state rollout for Aspen Power

This transaction is part of a broader acquisition programme by Aspen Power across several US states. The company is thereby strengthening its presence in the community solar market, a segment aimed at making renewable energy accessible to residents without on-site infrastructure. Management highlighted the importance of partnerships in supporting project deployment in a sometimes unstable regulatory environment.

Strategy focused on distributed resources

Ecogy Energy, which specialises in developing distributed energy resources for the mid-sized commercial and industrial segment, confirmed that these projects reflect its local deployment strategy. The company expressed satisfaction with the partnership with Aspen Power, highlighting the complementarity between local development and large-scale financing capabilities.

Expanded solar access for New Jersey residents

Thanks to the combination of Ecogy Energy’s community-based development and Aspen Power’s operational expertise, the two projects aim to broaden New Jersey residents’ access to more affordable renewable energy. The financial structure was not disclosed, but both companies confirmed their intention to continue cooperating on similar projects in other jurisdictions.

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