Aspen Power has closed on acquiring sites from Syncarpha totaling 6.85 MW

Aspen Power, a leading distributed generation platform dedicated to building the clean energy future, today announced closing on the acquisition of two community solar projects in Northampton, Pennsylvania, with a combined capacity of 6.85 megawatts direct current (MWdc). These projects are the first projects to close under a portfolio totaling 18 MWdc under contract with Syncarpha Capital, LLC.

Industry estimates from the Solar Energy Industries Association (SEIA) indicate these projects will create approximately 130 jobs. The ground-mounted systems are expected to generate almost 9 million kilowatt-hours (kWh) of clean energy annually, which is equivalent to powering over 800 homes.

“Aspen Power is proud to expand our presence in Pennsylvania and deliver the lowest-cost form of new power to communities across the state,” said Jorge Vargas, Chief Executive Officer of Aspen Power. “Solar is now the most affordable source of new electricity in the U.S., and even in a difficult national political environment, we are executing and bringing projects online. Together with our partners at Syncarpha Capital, we are creating reliable, long-term income for landowners, affordable clean energy for residents, and tangible progress toward a more resilient grid. At this pivotal moment for the renewable energy industry, strong execution and strong partnerships are what will drive lasting economic and environmental benefits, and Aspen is proud to be leading that effort in Pennsylvania.”

“As a long-term owner / operator of solar and storage projects, we’re selective about who we partner with when we choose to monetize shovel-ready projects. We chose Aspen Power because they are a reliable counterparty with strong financial backing and a proven ability to execute,” said Cliff Chapman, co-founder and CEO of Syncarpha Capital. “These transactions represent a fraction of Syncarpha’s organically developed Pennsylvania pipeline, and we look forward to continuing to play a significant role in expanding the state’s clean energy future.”

Aspen Power has been highly active in Pennsylvania, with more than 100 MW of operating and in-construction assets across the state. As electricity demand grows, solar’s speed of deployment makes it a critical solution for meeting near-term energy needs. Pennsylvania’s target of sourcing 18% of its electricity from renewables by 2025 underscores the importance of these projects, which will contribute directly to the state’s clean energy goals.

Nationwide, Aspen Power continues to lead in the distributed generation sector, having developed or acquired more than 600 renewable energy projects across 26 states in pursuit of a more affordable, reliable, and sustainable energy future.

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 Syncarpha Capital

Syncarpha Capital is a premier distributed generation solar and storage platform that develops, finances, owns, and operates projects across the U.S. Founded in 2009, the Company combines strong leadership with deep industry experience to manage every stage of the project lifecycle. Strategically focused on organic development in states with strong or emerging community solar and storage programs, Syncarpha is positioned to break down barriers to deliver a sustainable, clean energy future for the communities it serves.

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