Aspen Power Acquires New York Community Solar Projects

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NEW YORK--(BUSINESS WIRE)--Jan 29, 2026--

Aspen Power, a leading distributed generation platform building the clean energy future, today announced it has acquired the first two projects in an 18-megawatt direct current (MWdc) portfolio in upstate New York. The initial projects will cumulatively generate nearly 10 million kilowatt-hours of electricity in their first year, equivalent to the electricity use of approximately 2,700 homes in the region annually. The projects will participate in the state’s Value of Distributed Energy Resources (VDER) program, which compensates renewable energy projects for the benefits they provide to the electric grid while giving subscribers a discount on prevailing utility rates.

Energy prices continue to be a concern across upstate New York, with New York State Electric & Gas (NYSEG) seeking significant increases to delivery revenues and National Grid's three‑year rate plan recently approved by the Public Service Commission, both contributing to higher electricity costs for upstate customers.

“Acquiring these projects from CTEC Solar reflects the strength and resilience of New York’s community solar market,” said Dan Gulick, Senior Vice President, Community Solar and Asset Acquisition, Aspen Power. “Even in a challenging policy environment, well-structured solar projects deliver meaningful economic and environmental value close to where the energy is produced, supporting local jobs and advancing the state’s clean energy objectives.”

“We are proud to collaborate with Aspen Power on these community solar projects, which reflect CTEC Solar’s strong track record as a developer in this market,” said Mickey Toro, President, CTEC Solar. “Our team is focused on delivering high-quality, shovel-ready projects that create lasting value for our partners and the communities we serve. We value partnerships where we can bring both our development expertise and our EPC capabilities to deliver projects with speed, quality, and precision.”

This acquisition leverages CTEC Solar’s development experience and Aspen Power’s operational and financial capabilities to bring new community solar capacity online. Together, the companies aim to provide lasting economic benefits, reliable energy production, and measurable environmental impact for communities across New York.

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 CTEC Solar

CTEC Solar is a premier solar and energy storage project developer, EPC, and O&M provider known for delivering high-quality, turnkey renewable energy solutions from origination through construction. Headquartered in Connecticut, CTEC Solar combines deep regional development expertise with vertically integrated capabilities to serve utilities, independent power producers, and land owners across the United States. For more information, please visit www.ctecsolar.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260129523488/en/

CONTACT: MEDIA CONTACT

Aspen Power

Darius Razgaitis

646-465-8114

[email protected]

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ENVIRONMENT UTILITIES SUSTAINABILITY ALTERNATIVE ENERGY ENVIRONMENTAL HEALTH ENERGY

SOURCE: Aspen Power

Copyright Business Wire 2026.

PUB: 01/29/2026 08:00 AM/DISC: 01/29/2026 08:03 AM

http://www.businesswire.com/news/home/20260129523488/en