Main Street Power of Boulder, CO announced the acquisition of 100% of the shares of the company by The AES Corporation of Arlington, VA. The acquisition brings Main Street Power, a proven developer, owner and operator of distributed solar PV systems, together with AES, a Fortune 200 global energy company with operations in 18 countries and the world’s largest fleet of grid batteries in commercial service, to accelerate the growth of distributed generation solar capacity in key markets.
With this acquisition, AES adds nearly 60 MW of operational distributed generation solar PV projects across the US and an additional 100 MW of projects in development in the US, Caribbean and Latin America to its 35 GW portfolio of operational generation resources and more than 7 GW in construction. On February 25, the company commissioned its first project on the island of St. Thomas in the U.S. Virgin Islands which will provide as much as 5% of the island’s current base load capacity during daylight hours.
The existing leadership and broader team will remain in Boulder following the acquisition. The group will be known going forward as AES Distributed Energy and become a center of excellence for distributed solar generation within AES. In addition to adding capabilities in the US, the group will foster the development of distributed energy businesses in other AES markets, where electricity prices are higher and solar resources are more favorable.
The above is an excerpt of Main Street Power Acquired by The AES Corporation and Named AES Distributed Energy Press Release by AES Distributed Energy. Image Credit: AES Distributed Energy.