Aspen Power Expands Community Solar Portfolio with Acquisition from Cipriani Energy Group
Aspen Power, a prominent distributed generation platform focused on advancing the clean energy transition, has announced the acquisition of the first group of projects within a larger community solar portfolio developed by Cipriani Energy Group. The initial phase of the acquisition includes five community solar projects located in New York, representing a combined capacity of 19.9 megawatts direct current (MWdc). These projects mark the beginning of a broader transaction that is expected to include additional assets across New York and Illinois, ultimately bringing the total portfolio capacity to more than 51 MWdc.
The first five projects are situated in key regions of New York, including the North Country and the Capital District. Construction activities for these installations are anticipated to begin in the coming months as the projects move from the development phase toward execution. Aspen Power and Cipriani Energy Group expect to close on an additional six projects later this year as part of the broader agreement, which will significantly expand the total generating capacity under the portfolio.
Once operational, the initial group of solar installations is expected to generate nearly 29 million kilowatt-hours (kWh) of clean electricity during their first year of operation. This level of generation is equivalent to the annual electricity consumption of hundreds of homes, demonstrating the meaningful contribution these projects will make to regional renewable energy supply. In addition to supporting clean electricity generation, the projects will play an important role in enhancing grid resilience and promoting locally sourced energy.
The projects will participate in New York’s Value of Distributed Energy Resources (VDER) program, a policy framework designed to compensate distributed energy projects based on the value they provide to the grid and local communities. Through the VDER program, community solar subscribers will have the opportunity to receive credits on their electricity bills while benefiting from renewable energy generated within their region. This structure allows households, businesses, and organizations to participate in solar energy programs even if they do not have suitable rooftops or the ability to install their own solar systems.
Community solar initiatives have become an increasingly important mechanism for expanding access to renewable energy. Unlike traditional rooftop solar systems, community solar projects allow multiple participants to subscribe to a shared solar facility and receive a portion of the electricity generated as bill credits. This model broadens access to clean energy for renters, multifamily housing residents, small businesses, and others who might otherwise face barriers to solar adoption.
Aspen Power’s acquisition of the Cipriani Energy Group portfolio reflects the company’s strategy to scale its distributed generation assets across key U.S. markets where supportive policies and strong demand for renewable energy exist. By expanding its community solar footprint, Aspen Power aims to accelerate the deployment of distributed solar infrastructure while providing economic benefits to customers and local communities.
Dan Gulick, Executive Vice President of Community Solar and Asset Acquisition at Aspen Power, emphasized the importance of community solar in today’s evolving energy landscape. He noted that rising electricity costs and growing demand for clean power are driving interest in shared solar programs.
“Community solar remains one of the most effective tools for expanding access to clean energy while helping customers manage rising energy costs,” Gulick said. “These projects represent the type of disciplined development and strong market fundamentals that Aspen Power seeks as we continue to expand our community solar portfolio across key states.”
Gulick added that Aspen Power is focused on acquiring and operating high-quality solar assets that align with its long-term strategy of building a reliable distributed generation network. The company’s approach includes partnering with experienced developers, investing in projects with strong economic fundamentals, and maintaining long-term ownership to ensure consistent performance and community engagement.
For Cipriani Energy Group, the transaction represents an important milestone in its project development pipeline. The company specializes in the development and construction of renewable energy projects, particularly community solar installations designed to deliver long-term benefits to subscribers, utilities, and host communities.
Juan Urquidi, Co-Chief Executive Officer of Cipriani Energy Group, expressed enthusiasm about the collaboration and the transition of these projects into the construction phase.
“We’re pleased to partner with Aspen Power on this portfolio and move these projects into construction,” Urquidi said. “Our focus is on developing and constructing reliable, high-quality community solar projects in markets where they can deliver real long-term value for subscribers, utilities, and host communities.”
Urquidi highlighted that Cipriani Energy Group’s development strategy centers on identifying markets with supportive regulatory frameworks and strong demand for distributed renewable energy. By advancing projects through development and construction and partnering with long-term owners such as Aspen Power, the company aims to accelerate the deployment of clean energy infrastructure.
The collaboration between Aspen Power and Cipriani Energy Group demonstrates how partnerships between developers and long-term asset owners can accelerate the growth of distributed renewable energy. Cipriani Energy Group’s expertise in project development and construction complements Aspen Power’s operational capabilities, financial resources, and long-term ownership model.
Community solar continues to gain momentum across the United States as states adopt policies designed to promote renewable energy adoption while ensuring broader participation. Programs like New York’s VDER framework are helping to establish stable economic conditions for solar developers and investors while ensuring that customers benefit from locally generated clean power.
In addition to providing environmental benefits through reduced carbon emissions, community solar projects also generate economic advantages for local communities. These benefits can include job creation during construction, increased local tax revenues, and long-term lease payments to landowners hosting solar installations.
As the clean energy transition accelerates, distributed solar generation is expected to play a vital role in modernizing the electric grid. Community solar installations can reduce transmission congestion, improve energy resilience, and bring generation closer to where electricity is consumed.
The portfolio acquisition announced by Aspen Power represents another step toward expanding distributed solar capacity in the northeastern and midwestern United States. By advancing these projects in New York and Illinois, the company is contributing to state-level renewable energy goals while expanding access to affordable clean electricity.
Looking ahead, both companies anticipate that the remaining projects within the portfolio will close later this year, further increasing the total capacity of the transaction to more than 51 MWdc. Once fully operational, the complete portfolio will represent a substantial addition to the growing community solar infrastructure in the United States.
Through this partnership, Aspen Power and Cipriani Energy Group are helping to deliver scalable, locally generated renewable energy solutions that support grid stability, provide financial savings to consumers, and contribute to long-term sustainability goals.
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