AES acquires Community Energy Solar

AES announced that it has acquired Pennsylvania-based solar developer, Community Energy Solar, as well as Community Energy’s 10 GW project pipeline.

According to AES, the move is part of a greater plan for future company expansion efforts, and the acquisition of Community Energy will bolster those efforts with a strong development pipeline and skilled development workforce.

Community Energy has developed more than 3 GW of solar and storage projects and opened the market for utility-scale solar as the first to develop a 100 MW scale project in seven states. With the acquisition, AES’ US renewables portfolio now includes 4.4 GW of operating assets and 5.7 GW of signed PPAs.

In total, the merger brings AES U.S. solar development pipeline to more than 40 GW.

“AES is the ideal partner for us because of their conviction on climate, their industry-leading innovation and most importantly, their people,” said Brent Beerley, Community Energy CEO. “Having worked closely with the AES team over the past several years, we have found a deep alignment on values and culture, which was essential to us. I am beyond grateful to our team, our board and AES for this opportunity.”

In 2020, the University of Pennsylvania signed a Power Purchase Agreement (PPA) for the creation of a 220 MW solar project, the largest in the state, set to be developed by Community Energy.

The University is planned to purchase all the power produced at the two sites in Central Pennsylvania – equivalent to about 75% of the total electricity demand of the campus and the University’s Health System – for 25 years at a rate competitive with conventional electricity prices.

The associated generation is set to bring the University closer to its goal of a 100% carbon neutral campus by 2042 and the state closer to the 6 GW solar goals of advocates like Pennsylvania’s solar trade association, PASEIA.