Aspen Power Closes on Community Solar Project Acquisitions in New Jersey

The projects in Millville and Ocean Township were acquired from Ecogy Energy

NEW YORK--(BUSINESS WIRE)--Aspen Power has acquired two community solar projects in New Jersey totaling just over one megawatt direct current (MWdc) solar capacity from Ecogy Energy. The projects, located in Millville (South Jersey) and Ocean Township (Monmouth County), were initially developed by Ecogy Energy and are approaching the start of construction.

Together, the projects are expected to produce over 1.1 million kilowatt-hours (kWh) in their first year, enough to charge more than 64 million smartphones. The acquisition is part of a series of deals Aspen Power announced spanning four states. The projects are in Atlantic City Electric and Jersey Central power & Light utility territories and will provide subscribers a discount on prevailing utility rates.

“Collaboration is essential to accelerating the clean energy transition, and our partnership with Ecogy Energy demonstrates how working together can deliver results where they matter most,” said Dan Gulick, Executive Vice President, Community Solar, Aspen Power. “Solar is now the most affordable source of new power in America, and even with challenging political headwinds, we are successfully bringing projects online that lower costs for subscribers, generate reliable income for property owners, and support New Jersey’s ambitious clean energy goals. By building on Ecogy’s strong foundation, we are not only helping to decarbonize the grid, but also driving long-term economic and environmental benefits for local communities. At this critical moment for renewable energy, strong partnerships between developers and operators will be the key to sustained growth.”

“These projects are a great representation of Ecogy's continued focus on developing the mid-market commercial and industrial distributed energy resources space,” said Jack Bertuzzi, Principal, Ecogy Energy. “It’s great to have a partnership with Aspen Power, who see the value in these distributed generation projects, and the outsized value they bring to the grid and the surrounding communities.”

By pairing Ecogy Energy’s community-centered development with Aspen Power’s financing and operational expertise, the partners are helping more New Jersey residents access affordable renewable energy and contribute to a cleaner future.

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, own 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.

About Ecogy Energy

Ecogy Energy is a developer, financier, and owner-operator of distributed generation assets across the Northeast United States and the Caribbean.