Aspen Power, a distributed generation platform backed by Carlyle and dedicated to building the clean energy future, closed a $200 million capital raise provided by Deutsche Bank. The new capital commitment will bolster Aspen Power’s financial capacity and support growth initiatives across development, vendor engagement and project deployment as it scales its platform nationwide.
“This financing represents an important milestone for Aspen Power and reflects the strength and maturity of the platform we have built,” Jorge Vargas, co-founder and CEO of Aspen Power, said. “Aspen has consistently earned the trust of leading financial institutions by deploying capital with discipline and executing reliably across a growing national portfolio. We are pleased to welcome Deutsche Bank as a partner alongside other leading financial institutions, and we believe this commitment further strengthens our ability to originate, develop and deliver high-quality distributed solar and storage projects at scale.”
Jeremy Eisman, head of infrastructure and energy financing at Deutsche Bank, said, “Deutsche Bank recognizes the growing demand for distributed clean energy and the related need for flexible development capital. We believe Aspen Power’s strategy and execution are well-aligned with the transition to a low-carbon future, and we are proud to join Carlyle in supporting Aspen’s next phase of growth and development.”
Bill DeLong, chief financial officer of Aspen Power, said, “Earning the support of an institution like Deutsche Bank speaks to the rigor of Aspen Power’s financial framework and execution capabilities. This capital enhances our ability to manage growth thoughtfully, partner effectively with vendors, and deliver projects that meet the expectations of our investors and lenders.”
Saurabh Anand, managing director of Carlyle, said, “Aspen Power has built a strong, resilient, and well-capitalized platform positioned to meet growing demand for distributed solar and storage nationwide. Over the past several years, the company has demonstrated disciplined growth, rigorous market selection, and consistent execution across an expanding national footprint. We are pleased to welcome Deutsche Bank as a partner as Aspen enters its next phase of expansion, and we believe this additional scale will strengthen the company’s ability to deliver high-quality projects.”
