AES to merge US development arm with sPower, creating 12GW US clean energy pipeline

Facebook
Twitter
LinkedIn
Reddit
Email
sPower's Lancaster plant in California. Image: sPower.

AES Corporation is to merge its US-facing clean energy development business with independent power producer sPower, creating a platform with a 12GW project pipeline in the country.

AES and Alberta Investment Management Corporation (AIMCo), which collaborated to acquire sPower in 2017, said the merger will bring together capabilities in solar, wind and storage to accelerate the transition to cleaner energy solutions across the US. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Future projects from the combined 12GW development pipeline will be owned 75% by AES and 25% by AIMCo. Although there is no change in ownership of operating assets and backlog, the new platform will manage the 2.5GW of operating assets and the existing 2.6GW contracted backlog. 

AES's wholly owned clean energy development business includes AES Distributed Energy and a wind development team formerly part of Advance Energy.

“The merger of sPower with AES's clean energy business will benefit customers by providing access to a broader portfolio of product offerings as well as an expanded highly skilled and experienced team to drive innovation at scale,” said Andrés Gluski, AES CEO.

Utah-headquartered sPower owns and operates more than 150 renewable generation systems across the US. This year has seen the company conclude financing for its largest PV project to date, the 620MWdc Spotsylvania Solar Energy Center in Virginia. Wells Fargo agreed to a US$350 million tax equity commitment for the facility in April, with sPower later securing a US$700 million construction/term loan from nine other banks.

sPower has since announced the appointment of Michael Belikoff, a former Cypress Creek Renewables and First Solar executive, to the position of chief operating officer.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK