Aspen Power Expands with Illinois Solar Project Acquisition

• Aspen Power expands in Illinois with 13.9 MWdc community solar acquisition, offering savings and clean energy access to residents and businesses, backed by stable financing and innovative strategies.

Aspen Power has acquired two community solar projects in Illinois from Greenwood Sustainable Infrastructure, totaling 13.9 MWdc. This acquisition expands Aspen's distributed-generation presence in the Midwest, capitalizing on Illinois' supportive policies and strong subscriber demand. The state's program design, featuring consumer protections and transparent bill-crediting, ensures low churn and tangible savings for subscribers. Aspen's strategy focuses on acquiring shovel-ready and under-construction assets for efficient integration into its operations.

The economic resilience of community solar is bolstered by stable portfolio financing and subscription software, despite fluctuating module prices and interest rates. Co-locating small batteries at some sites enhances returns by managing peak demand and participating in local flexibility programs. For residents and small businesses, community solar offers a straightforward opportunity to save money and support clean energy without needing rooftop installations. If Aspen commissions these projects on schedule, customers could receive credits before the summer peak, demonstrating the effectiveness of community solar in translating policy into operational capacity.

How does Aspen Power's acquisition impact Illinois' community solar landscape and subscriber benefits?

• Expansion of Community Solar Access: Aspen Power's acquisition increases the availability of community solar options in Illinois, providing more residents and businesses with access to renewable energy without the need for personal installations.
• Enhanced Subscriber Benefits: Subscribers can expect tangible savings on their energy bills due to Illinois' transparent bill-crediting system, which ensures that the financial benefits of solar energy are directly passed on to them.
• Increased Market Stability: The acquisition supports market stability by leveraging Aspen's stable portfolio financing and advanced subscription software, which helps manage economic fluctuations and maintain consistent subscriber benefits.
• Improved Energy Resilience: By co-locating small batteries at some sites, Aspen Power can enhance energy resilience, manage peak demand more effectively, and participate in local flexibility programs, potentially leading to additional savings for subscribers.
• Timely Commissioning and Benefits: If Aspen Power commissions these projects on schedule, subscribers could start receiving energy credits before the summer peak, maximizing their savings during high-demand periods.
• Support for State Renewable Goals: The acquisition aligns with Illinois' renewable energy goals, contributing to the state's transition to cleaner energy sources and supporting its policy framework designed to encourage community solar development.
• Economic and Environmental Impact: The projects contribute to local economic growth through job creation and investment in renewable infrastructure, while also reducing carbon emissions and supporting environmental sustainability.
• Consumer Protections: Illinois' program design includes strong consumer protections, ensuring that subscribers are safeguarded against potential risks and can confidently participate in community solar programs.