Are we finally undoing the queue?
A fresh report from Wood Mackenzie indicates that the speed of grid interconnection in the United States might be speeding up, as agreements reached historic highs in 2024, surging 33% to 75 gigawatts (GW), the largest volume on record.
Kaitlin Fung, who analyzes North America’s utility-scale solar sector for Wood Mackenzie, attributes new federal regulations aimed at streamlining the process.
“It’s clear that these reforms are showing early signs of promise in accelerating the pace of interconnection studies,” observed Fung.
Solar and storage technologies accounted for 75%, or 58 GW, of all interconnection agreements in 2024 and are expected to retain a similar market share this year. Solar has accounted for half of all signed agreements since 2019, a trend that continues.
Federal headwinds be damned, renewable energy projects are progressing, and the dotted line is still getting signed by investors. Here are some of the deals that caught my eye over the last stretch, and as always, a little ditty to get us started. May your weekend be long and your Sunday Scaries short.
Aspen Power Acquires Projects in Illinois and New Jersey, Closes on Tax Equity Financing
This week was a busy one for distributed generation platform Aspen Power, which announced the acquisition of four projects in two states and closed on a new tax equity facility.
The company snapped up two community solar gardens in Illinois with a combined capacity of 13.9 megawatts direct current (MWdc). Located in Grafton and Mattoon, the projects are expected to generate over 19 million kilowatt-hours (kWh)- the clean energy equivalent to powering 2,770 homes each year.
The projects were acquired from Greenwood Sustainable Infrastructure (GSI) and are part of a larger portfolio spanning Illinois and New York, which also includes sites nearing final completion. Aspen Power recently closed on another 14.1 MW Illinois portfolio and has announced a partnership to acquire 20 additional community solar projects totaling up to 19 MW, primarily in Illinois.
Aspen Power also acquired two community solar projects in New Jersey totaling just over 1 MWdc solar capacity from Ecogy Energy. The projects, located in Millville (South Jersey) and Ocean Township (Monmouth County), were initially developed by Ecogy Energy and are approaching the start of construction. The acquisition is part of a series of deals Aspen Power announced spanning four states. The projects are in Atlantic City Electric and Jersey Central Power & Light utility territories and will provide subscribers with a discount on prevailing utility rates.
“Solar is the cheapest form of power available to Americans of all income levels,” reminded Jorge Vargas, Chief Executive Officer of Aspen Power.
“Collaboration is essential to accelerating the clean energy transition, and our partnership with Ecogy Energy demonstrates how working together can deliver results where they matter most,” stated Dan Gulick, Executive Vice President of Community Solar at Aspen Power.
“These projects are a great representation of Ecogy’s continued focus on developing the mid-market commercial and industrial distributed energy resources space,” added Jack Bertuzzi, Principal at Ecogy Energy. “It’s great to have a partnership with Aspen Power, who see the value in these distributed generation projects and the outsized value they bring to the grid and the surrounding communities.”
Aspen Power’s new tax equity facility is with Monarch Private Capital and will support solar project portfolios across New York, Illinois, and Pennsylvania, further advancing the company’s 2025 pipeline. Aspen Power has now secured a total of $66 million in tax equity commitments during the first eight months of 2025, aiming to reach gigawatt scale by mid-decade.
ClearGen Forges $150M Multi-Year Partnership For Community and Commercial Solar Projects
ClearGen Holdings, a sustainable infrastructure capital provider, has entered into a multi-year $150 million partnership with Davis Hill Development (DHD), a wholly owned subsidiary of Skyview Ventures, to finance community and commercial solar projects. The partnership will support the construction of DHD’s near-term distributed solar pipeline of over 245 MW in core Northeast and Mid-Atlantic markets and other targeted regions in the U.S.
The partnership is already underway, and the first joint project is expected to be operational by the end of this year. It’s a 292-kilowatt (kW) rooftop solar array on a warehouse building in Washington, D.C. that will feature 536 Longi 545W modules and is designed to avoid more than 213,000 pounds of CO₂ emissions annually, equivalent to offsetting 224 barrels of oil or powering 20 homes each year.
“This partnership gives us the committed capital to confidently execute our growing pipeline. As we scale, it’s important to align with partners who understand our vision and way of doing business. ClearGen brings the transparency, flexibility, and long-term support that help us grow while staying true to what makes our platform successful,” said Matt Coleman, CEO of Davis Hill Development.
“We have been extremely impressed by DHD for their experience, commitment, and success,” added Rob Howard, CEO of ClearGen.
JLL (formerly Javelin Capital) served as exclusive financial advisor to Davis Hill Development on the transaction.
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ContourGlobal’s First U.S. Facility Comes Online
On Thursday, British power company ContourGlobal celebrated the energization of its first U.S. project, the initial phase of Black Hollow Sun I, a 185 MW installation near Severance, Colorado, serving Platte River Power Authority, the community-owned utility serving Fort Collins, Loveland, Estes Park, and Longmont. The facility, located in Weld County, is about 16 miles east of Fort Collins. It was originally developed by Hanwha Renewables and acquired by ContourGlobal earlier this year.
ContourGlobal is also constructing the second part of the project, BHS II, which will add 139 MW and is expected to be completed by the end of 2026. Together, the tandem will constitute the largest photovoltaic installation in Northern Colorado and Platte River’s largest contracted solar asset. Combined, the projects will produce nearly 608 GWh of clean electricity annually, enough to power more than 73,000 homes and avoid almost 450,000 metric tons of CO₂ emissions each year.
“The start of operations at Black Hollow Sun I is a pivotal moment for ContourGlobal, marking our first U.S. renewable plant to reach operational state, and especially meaningful as we celebrate our 20th anniversary since the company was incorporated in the U.S.,” commented Antonio Cammisecra, CEO of ContourGlobal.
ContourGlobal is using American-manufactured solar modules supplied by its partner Qcells, which is also providing its integrated EPC (Engineering, Procurement, Construction) solutions for this project. ContourGlobal’s overall U.S. portfolio now totals 2.8 GW of power generation capacity in operation, under construction, or in late-stage development. The company’s operational portfolio (1.5 GW) also includes a thermal fleet of 10 plants located in California, New Mexico, and Texas, as well as a light fuel oil plant in Connecticut.
Renewable Properties Announces New EV Fleet Charging Hub
Developer and investor Renewable Properties (RP) has closed on the purchase of land and a $20 million credit facility for a new electric vehicle (EV) charging hub for fleet vehicles in Richmond, California. The investment will also support RP’s development of nine other fleet charging depots in the San Francisco Bay Area, California’s Central Coast, and Chicago, Illinois.
The 4 MW Goodrick Avenue EV Depot project will commence construction in Q2 of 2026 and is expected to be completed by October 2027. It is being funded by a $20 million credit facility from a prominent family office investment firm. Renewable Properties has also received a $3 million grant from the Bay Area Air District to construct the fleet charging hub.
Located in an industrial infill area known for warehousing, distribution, and manufacturing, the Goodrick Avenue, Richmond location will become one of Renewable Properties’ first completed EV charging hubs for medium-duty EV truck fleets. Designed for commercial applications, such as delivery trucks, box trucks, utility service vehicles, and smaller buses, the facility will feature 60 charging stalls with 16 Level 3 DCFS chargers and 48 Level 2 chargers. The company expects additional committed capacity from PG&E in 2026, which will further expand the depot’s 4 MW of charging capacity.
“The Richmond charging hub is part of Renewable Properties’ expanded commitment to decarbonizing the transportation sector,” said Aaron Halimi, founder and President of Renewable Properties. “This launch will not only expand Bay Area EV fleet infrastructure, it will help lead a shift toward reducing diesel and gas emissions in high traffic corridors and support the health of disadvantaged communities.”
First Citizens Bank Provides $60 Million to Triple Oak Power
First Citizens Bank’s Energy Finance business has provided a $60 million credit facility to Triple Oak Power, a U.S.-based renewable energy developer backed by Energy Capital Partners, a leading investor in energy transition companies.
Triple Oak has an 8 GW pipeline of utility-scale onshore wind and hybrid projects currently under development. The new credit facility will be used to provide interconnection security postings for the development of renewable project assets. First Citizens Energy Finance served as coordinating lead arranger, administrative agent, and collateral agent for the transaction.
“First Citizens has a deep understanding of the renewable energy sector and the financing tools needed to bring large-scale projects to market,” noted Kenneth Labeja, co-founder and Chief Financial Officer of Triple Oak Power. “This financing was an important step in advancing our onshore wind portfolio, which is the cornerstone of our hybrid approach to project development.”
