Carlyle Group Funnels Money into Aspen Power Partners LLC
Posted on 11/03/2022
Dallas, Texas-based Aspen Power Partners LLC is a distributed generation platform with the mission of accelerating decarbonization. Aspen Power Partners announced a $350 million investment from funds managed by global investment firm Carlyle Group (NASDAQ: CG). The investment supports Aspen’s organic and acquisition-driven growth strategy targeting the community, multifamily, and commercial & industrial solar and storage markets. To launch this strategy, Aspen has acquired Safari Energy, LLC from PPL Corporation (NYSE: PPL).
Founded in 2008, Safari Energy has acquired or developed more than 600 commercial & industrial solar projects in the U.S.
On February 24, 2022, Aspen Power Partners raised $120 million of capital from providers including Ultra Capital, Redball Power, and Bank Lombard Odier & Co (Lombard Odier), as well as family offices and high net worth individuals. Aspen was incubated at Energy Impact Partners.