Carlyle has made a $350 million investment in Aspen Power Partners LLC, a distributed generation company with a focus on decarbonization.
Aspen aims to provide consumers and businesses of all income levels with access to renewable energy. The investment works to support Aspen’s organic and acquisition-focused growth strategy targeting the community, multifamily and commercial & industrial (C&I) solar and storage markets. To launch their strategy, Aspen has acquired Safari Energy LLC, a company that boasts over 600 C&I projects nationwide, from PPL Corp.
“Our investment in Aspen is a commitment to accelerating the widespread accessibility and availability of solar and storage, which we believe is accretive to our portfolio by supporting this decade’s ambitious renewable energy and climate change targets,” says J.B. Oldenburg, managing director on the renewable and sustainable energy team at Carlyle.