Aspen Power Secures $200 Million Strategic Capital Commitment from Deutsche Bank
Aspen Power, a leading distributed generation platform backed by Carlyle and focused on accelerating the transition to a clean energy future, today announced the successful closing of a $200 million capital raise led by Deutsche Bank. This new capital commitment significantly strengthens Aspen Power’s financial capacity, enabling the company to scale its platform nationwide and expand its offerings across community solar, commercial and industrial solar, small utility-scale projects, and energy storage solutions.
The $200 million investment will support a range of growth initiatives, including project development, vendor engagement, and rapid deployment of clean energy solutions, positioning Aspen Power to respond to the rising demand for distributed energy across the United States. By bolstering its balance sheet, Aspen is also enhancing its ability to move quickly on new project opportunities while maintaining disciplined execution and delivering reliable returns to its investors.
This financing represents an important milestone for Aspen Power and reflects the strength and maturity of the platform we have built,” said Jorge Vargas, Co-Founder and Chief Executive Officer of Aspen Power. “Over the years, Aspen has earned the trust of leading financial institutions by consistently deploying capital with discipline and executing reliably across a growing national portfolio. We are thrilled to welcome Deutsche Bank as a partner alongside other leading financial institutions. Their commitment further strengthens our ability to originate, develop, and deliver high-quality distributed solar and storage projects at scale.”
Deutsche Bank’s participation underscores the increasing recognition of the critical role that distributed clean energy solutions play in the broader energy transition. “Deutsche Bank recognizes the growing demand for distributed clean energy and the related need for flexible development capital,” said Jeremy Eisman, Head of Infrastructure and Energy Financing at Deutsche Bank. “Aspen Power’s strategy and execution capabilities are well-aligned with the transition to a low-carbon future. We are proud to join Carlyle in supporting Aspen’s next phase of growth and development.”
Bill DeLong, Chief Financial Officer of Aspen Power, highlighted the strategic significance of the financing. “Earning the support of an institution like Deutsche Bank speaks volumes about the rigor of Aspen Power’s financial framework and execution capabilities. This capital enhances our ability to manage growth thoughtfully, partner effectively with vendors, and deliver projects that meet the expectations of our investors and lenders. We are now even better positioned to scale efficiently and responsibly.”
Saurabh Anand, Managing Director at Carlyle, emphasized the company’s commitment to disciplined growth. “Aspen Power has built a strong, resilient, and well-capitalized platform that is uniquely positioned to meet growing demand for distributed solar and storage nationwide. Over the past several years, the company has demonstrated careful market selection, disciplined execution, and consistent delivery across an expanding national footprint. We are pleased to welcome Deutsche Bank as a partner as Aspen enters its next phase of expansion. This additional capital will strengthen the company’s ability to deliver high-quality projects and expand access to clean energy solutions across multiple customer segments.”
Aspen Power’s vertically integrated business model—encompassing origination, development, construction, and asset ownership—is designed to deliver sustainable and cost-effective clean energy at scale. With the new capital commitment, Aspen gains additional flexibility to accelerate project execution, expand its vendor network, and bring more customers onto its platform across commercial, industrial, and community solar markets.
The company’s strategic approach has been bolstered by strong growth in the solar and energy storage sectors, which continue to rank among the fastest-growing segments in the U.S. energy industry. This growth is driven by declining solar installation costs, advances in energy storage technology, and strong demand from municipalities, communities, and commercial customers seeking reliable, clean energy alternatives.
Over the past year, Aspen Power has expanded its project portfolio across key states including New York, Illinois, New Jersey, and Pennsylvania, strengthening its presence in core markets while building the foundation for national scale. With the support of Deutsche Bank, Aspen is now poised to broaden access to clean energy solutions, enabling more communities and businesses to participate in the transition to a low-carbon economy.
The partnership with Deutsche Bank also highlights the increasing investor confidence in distributed energy platforms that combine disciplined capital management with scalable execution. As the energy market evolves, Aspen Power’s model offers a compelling solution: it provides customers with reliable, locally sourced clean energy while delivering attractive financial outcomes for investors.
Looking forward, Aspen Power plans to leverage this new capital to accelerate project origination, advance development timelines, and expand its asset base across multiple states. By combining deep industry expertise, rigorous project selection, and a strong financial framework, Aspen aims to set new standards for distributed solar and energy storage deployment nationwide.
This strategic investment is more than a financial milestone—it is a validation of Aspen Power’s long-term vision for a cleaner, more resilient energy grid,” Vargas added. “With the support of Deutsche Bank and our existing partners, we are ready to scale our platform, deploy capital efficiently, and deliver transformative clean energy solutions for customers across the United States.”
As the U.S. continues to prioritize renewable energy deployment, companies like Aspen Power are poised to play a critical role in advancing the nation’s clean energy goals. The combination of strategic capital, disciplined execution, and an integrated platform positions Aspen Power to capitalize on a rapidly expanding market, delivering sustainable energy solutions while generating strong financial performance for stakeholders.
With this $200 million strategic commitment, Aspen Power enters its next phase of growth, solidifying its position as a leading player in the distributed solar and energy storage sector and reinforcing its mission to make clean energy accessible, reliable, and cost-effective for communities and businesses nationwide.
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