Aspen Power Partners has acquired 53 MW of community solar projects in Maryland and Pennsylvania from Trajectory Energy Partners.
Trajectory will lead the development of the sites, and Aspen will provide the financial support – approximately $96 million – and oversee the design, subscriber management and long-term ownership of the assets.
The portfolio consists of 10 projects across the mid-Atlantic region. Four of the sites are in Maryland and will participate in the state’s pilot community solar program. The remaining six sites are in Pennsylvania; they will be developed in advance of that state’s pending community solar legislation. The portfolio includes a community solar project with a historic church in Prince George’s County, Md.; a community solar project with a nonprofit foundation working to preserve a historic site in Prince George’s County, Md.; and a community solar project on a reclaimed former coal mine in Clearfield County, Pa.
“We are very pleased to be working with a strong development partner like Trajectory. It is encouraging that we are expanding our geographical footprint, continuing to work with landowners to preserve their property for future generations, and advancing the energy transition,” says Dan Gulick, partner at Aspen Power Partners.
“We are excited to partner with Aspen on such a significant portfolio of projects,” adds Megan Strand, Trajectory’s partner and co-founder. “Aspen brings a wealth of experience and resources to developing community solar projects. With Aspen’s financial backing, we can deliver projects that provide clean energy and local economic development to the surrounding communities.”