Aspen Power Acquires 6.8 MW Community Solar Portfolio in Upstate New York
Aspen Power has acquired two community solar projects totaling 6.8 MWdc in upstate New York from CTEC Solar. The projects are part of an 18 MWdc portfolio and will operate under New York’s VDER program, supplying clean electricity to local subscribers.
Transaction date: · Source: aspenpower.com
Key facts
- Transaction date
- Technology
- Solar PV
- Capacity
- 6.8 MW
- Transaction price
- Not disclosed
- Buyer
- Aspen Power
- Seller
- CTEC Solar
- Country
- United States
- Region
- New York State
- Location
- Upstate New York
- Continent
- North America
- Development status
- Under Construction
- PPA
- Yes
Technology details
Two community solar photovoltaic projects totaling 6.8 MWdc. The projects are part of a broader 18 MWdc portfolio and are expected to generate nearly 10 million kWh of electricity in their first year. Construction will be led by CTEC Solar and is scheduled to begin in the coming months.
Power purchase agreement (PPA)
Community solar projects operating under New York’s VDER framework, providing bill credits to subscribers rather than a traditional bilateral PPA.
Additional information
The acquired projects participate in New York State’s Value of Distributed Energy Resources (VDER) program, which compensates distributed generation assets for grid benefits while offering subscribers discounted electricity rates. The projects are expected to supply clean energy equivalent to the annual consumption of approximately 2,700 homes. This transaction marks the first acquisitions within Aspen Power’s planned 18 MWdc community solar portfolio in upstate New York.
Source
Original announcement: https://aspenpower.com/aspen-power-acquires-new-york-community-solar-projects/