Aspen Power Partners announces a $350 million investment from funds managed by the investment firm Carlyle.
A growth strategy
The investment by Aspen Power Partners is part of the company’s organic growth strategy. The company is targeting the solar energy and storage markets in the community, multi-family, commercial and industrial sectors. To carry out its strategy, Aspen acquires Safari Energy LLC.
This acquisition is one of the largest transactions in the solar industry. In fact, since its inception in 2008, Safari has developed or acquired over 600 solar projects in the United States. These solar projects, spread across 24 states, generate more than 893,000MWh, saving 632,000 tons of CO2 emissions.
Increase in demand
Aspen is also acquiring a portfolio of 220MW of solar distributed generation assets in operation or under construction from Safari. The completion of the Safari acquisition will allow Aspen to reach multi-GW scale by the middle of the decade. Pooja Goyal, Chief Investment Officer of Carlyle’s Infrastructure Group, said:
“We are very excited about our partnership. We look forward to facilitating the growth of their business into a large-scale distributed production platform.”
Safari’s solar assets and Aspen’s multi-family solar pipeline will create a diversified independent power producer. The demand for solar energy continues to grow. Aspen’s objective is to meet the new needs of its customers.
