Aspen Power Acquires Pennsylvania Commercial Solar Portfolio

Initial portfolio of 10 commercial solar projects from Sunrise Energy totals 42 MW

Aspen Power, a distributed generation platform with the mission of accelerating and democratizing decarbonization, announced today that it has acquired an initial 10 ground-mounted solar projects in northwest Pennsylvania from Sunrise Energy, LLC. These sites, totaling 42 megawatts of direct current (MWdc) projects, are the start of Aspen’s agreement with Sunrise for the development of an 84MWdc portfolio and represent Aspen’s first phase of its multi-hundred MW Pennsylvania strategy.

The projects have been acquired by Aspen Power from Sunrise Energy, and construction of the sites is expected to begin in the coming months. All of the projects will be net-metered under Pennsylvania’s Alternative Energy Portfolio Standard Act, allowing Aspen Power to generate energy and sell excess electricity back to the grid. This will help to reduce carbon emissions and promote a more sustainable future in the Keystone State.

“We are excited to announce the acquisition of these solar projects from Sunrise,” said Dan Gulick, Senior Vice President, Aspen Power. “These projects are a significant step towards our goal of expanding our renewable energy portfolio and providing clean, sustainable energy to communities across Pennsylvania.”

Dave Hommrich, President of Sunrise, commented on the acquisition, stating, “We are thrilled to partner with Aspen Power to bring these solar projects online. Our shared vision for clean energy and sustainable communities make Aspen Power an ideal partner for Sunrise.”

Pennsylvania has set a target of achieving 18% of its electricity from renewable sources by 2025. These commercial net metering solar projects will help advance that goal while allowing residents, businesses, and other organizations to participate in the renewable energy future.

In November 2022, Aspen Power secured a $350 million investment from Carlyle and acquired Safari Energy, significantly expanding the company's footprint in the commercial and industrial solar market. With the goal of reaching gigawatt scale by mid-decade, Aspen Power is committed to advancing the transition to a more sustainable energy future.

For more information, please visit Aspen Power's newly rebranded website at www.aspenpower.com.

About Aspen Power

Aspen Power is a distributed energy generation platform with the dual mission of accelerating and democratizing decarbonization. We partner with businesses, communities, and others in the industry to develop, construct, and operate renewable energy assets. Our experienced team is passionate about solving our clients’ energy challenges to deliver a sustainable future throughout the U.S. For more information, please visit aspenpower.com.

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