Aspen Power, a leading distributed generation platform dedicated to building the clean energy future, has closed on the Membership Interest Purchase and Development Services Agreement (MIPDSA) of a 14.1 megawatt direct current (MWdc) community solar portfolio in Illinois. Aspen Power has acquired the early-stage sites from Arrow Solar Development LLC and plans to use the company's expertise and financial strength to bring the projects from early-stage development and construction to long-term operation.
"Aspen Power is committed to driving the growth of community solar in Illinois, expanding access to clean energy," said Dan Gulick, SVP of Origination at Aspen Power. "By supporting the state's ambitious renewable energy goals, we are not only helping to decarbonize the grid but also delivering meaningful economic and environmental benefits to local communities. We're grateful to partner with Arrow Solar Development on these projects, building on their strong development work to bring more affordable, sustainable power to Illinois."
With this acquisition, Aspen Power continues to grow its presence in the state, bringing its total Illinois portfolio to over 34 MW. Aspen Power's investment underscores the positive market conditions driven by growing demand for solar solutions and policy support. The state's community solar market has grown significantly under the Climate and Equitable Jobs Act (CEJA), which promotes renewable energy adoption while ensuring access for low- and moderate-income communities.
The projects are all examples of public-private partnerships, including school districts, municipality, and non-profit owned property. Aspen Power is dedicated to investing in the future of local communities by providing thousands of dollars in scholarships to students near these project sites. Through this commitment, we aim to support education, foster community engagement, and create lasting benefits beyond clean energy.
Aspen Power remains focused on reaching gigawatt scale this decade, reinforcing its commitment to delivering innovative clean energy solutions that drive long-term environmental and economic benefits. These projects increase renewable energy production, create clean energy jobs, and reduce greenhouse gas emissions.
About Aspen Power
Aspen Power is a distributed energy generation platform that is building the clean energy future. We partner with businesses, communities, and others in the industry to develop, construct, own, and operate renewable energy assets. Our experienced team is passionate about solving our clients' energy challenges throughout the U.S. For more information, please visit aspenpower.com.
About Arrow Development
Arrow Solar Development, LLC, a wholly-owned subsidiary of BOW Energy Holdings, LLC, has performed renewable energy development services for Virtual Net Metering (VNM), Community Solar (CS), Direct Generation (DG), and Utility-Scale projects. ARROW has been successful in acquiring land positions and has had steady growth in development activities across renewable energy project portfolios. Arrow Solar Development is the sister company to BOW Renewables. The BOW team was built to provide expertise throughout the lifecycle of a renewable energy project. Our team provides expertise in siting, site acquisition, development management, permitting/approvals, and oversight during construction and energization of a renewable energy project.
Contacts
Media Contact
Aspen Power
Darius Razgaitis
646-465-8114
media@aspenpower.com
