Aspen Power Closes Tax Equity Financing to Advance Solar Projects Across Three States

NEW YORK--(BUSINESS WIRE)--Aspen Power, a leading distributed generation platform dedicated to building the clean energy future, today announced the closing of a new tax equity facility with Monarch Private Capital. The investment will support Aspen Power solar project portfolios across New York, Illinois, and Pennsylvania, further advancing the company’s 2025 pipeline.

With this latest transaction, Aspen Power has secured a total of $66 million in tax equity commitments during the first eight months of 2025, underscoring strong investor confidence in its distributed generation strategy.

“This commitment secured through Monarch strengthens Aspen’s ability to execute on our pipeline and expand access to distributed generation across multiple states,” said Bill DeLong, Chief Financial Officer at Aspen Power. “Tax equity partnerships like this are essential to driving long-term growth and accelerating progress toward a more sustainable future.”

"Partnering with Aspen Power enables us to advance projects that align with our 'all-of-the-above’ energy investment strategy," said Bryan Didier, Partner and Managing Director Energy at Monarch Private Capital. "This collaboration supports the energy transition across New York, Illinois, and Pennsylvania while delivering meaningful community impact and long-term value for our investors."

Aspen Power continues to lead in distributed generation, leveraging strong financial partnerships to bring more solar projects online. To date, the company has developed or acquired more than 600 renewable energy projects across 26 states, advancing its mission to build the clean energy future.

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 Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.