AES Corporation, a US based solar developer, has announced the acquisition of Community Energy Solar, LLC (Community Energy). AES has signed PPAs to provide 4 GW of renewable energy in the United States this year, and the acquisition of Community Energy will help the company’s future expansion ambitions by providing a robust pipeline and a talented development personnel.
As per the company’s statement, over the previous two decades, Community Energy has earned a stellar reputation for its ability to effectively create renewable energy projects. With a robust pipeline totalling more than 40 GW across the country and an industry-leading development team to progress projects, the addition of Community Energy and its 10 GW pipeline to AES will complement their efforts to deliver highly creative solutions to customers.
For the past 20 years, the Community Energy team has been working on renewable energy development in the United States. Community Energy has built more than 3 GW of solar and storage projects and was the first to build a 100 MW scale project in seven states, paving the way for utility-scale solar. AES now has 4.4 GW of operating assets and 5.7 GW of signed PPAs in the US renewables market. It has operations in 13 countries.
REGlobal’s Views: Acquisition of a massive 10 GW renewable energy portfolio will help AES to expand its market share significantly. The United States is one of the largest investment hotspots in the renewable energy sector globally with massive capacity additions planned for the near future.
