The portfolio is comprised primarily of community solar and commercial solar-plus-storage projects, over a third of which HASI said are paired with energy storage. They cross seven power markets and 11 states: Arizona, California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Massachusetts, New York, Rhode Island, and Vermont.

AES will continue to own and operate the projects, which a press release said are “contracted with a diverse group of predominately investment-grade corporate, utility, and municipal off-takers”.

James Marshall, CFO for AES’ clean energy business in the US said: ““AES’ purpose is to accelerate the future of energy. This investment in AES’ operating renewables portfolio represents a continuation of our partnership with HASI that will free up capital to develop and build new clean energy projects in the US.”

Indeed, in May 2023 the utility confirmed plans to triple its renewables capacity by 2027 and abandon coal generation by 2025. A month later, it purchased the 2GW Bellefield solar-plus-storage project in Kern County, California from its developer, Avantus.

Earlier this week, fellow US utility American Electric Power (AEP) sold its entire stake in solar projects in New Mexico to Exus Asset Holdings.

UPCOMING EVENT

PV CellTech USA 2025

7 October 2025

San Francisco Bay Area, USA

PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

UPCOMING EVENT

Solar & Storage Finance USA 2025

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.

UPCOMING EVENT

Large Scale Solar Central Eastern Europe 2025

25 November 2025

Warsaw, Poland

Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

UPCOMING EVENT

PV ModuleTech USA 2026

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.