Main Street Power Company has been acquired by global power company AES Corporation, with AES netting 100% of Main Street Power’s shares.
Possessing a portfolio of over 200 commercial projects and several residential platforms, Main Street Power has a capacity to supply the equivalent of over 17,000 households with power annually.
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As a result of the deal, AES will now gain almost 60MW of operational distributed generation PV projects and an additional 100MW of projects under development in the US, Caribbean and Latin America to its 35GW portfolio.
Going forward, Main Street Power will operate under the name of AES Distributed Energy and will remain in Main Street Power’s existing headquarters in Boulder, Colorado.
Amory Host, president and CEO of AES Distributed Energy, said: “As part of AES, we see tremendous opportunity to build on and grow the environmental, economic and social benefits that distributed solar generation brings to the communities, homeowners, schools, municipalities, businesses and utilities we serves.”
Chris Shelton, vice president of New Energy Solutions, added: “The addition of the AES Distributed Energy group to AES strengthens our ability to provide affordable and sustainable energy solutions to our customers. By combining the experience AES has in running and operating generation and utilities in 18 countries and in bringing innovative solutions such as energy storage to market with the expertise AES Distributed Energy has in delivering distributed solar solutions to customers, we believe we can successfully extend our share of the rapidly growing market.”
