About Aspen Power
Aspen Power is an Energy & Utilities company based in Dallas (United States) founded in 2020, and was acquired by The Carlyle Group in November 2022. Aspen Power has raised $120 million across 5 funding rounds from investors including MUFG Bank, J P Morgan and First Citizens Bank. Aspen Power has completed 1 acquisition, including Safari Energy. Aspen Power offers products and services including Solar Development, Project Financing, O&M and Project Optimization, Battery Storage, and EV Charging. Its focus areas include Energy, Solar Energy, Project Development Services and Project Developers. Its competitors include Enel X, Recurrent Energy and Longroad Energy; 3 of its 3 listed competitors have raised funding.
Company details
Provider of renewable energy asset development, construction, and operation services. It partners with businesses and communities to develop, construct, and operate renewable energy assets and storage. It specializes in project finance, solar development, and operations and maintenance and project optimization. It offers solutions for community solar, commercial and industrial solar, public sector, multifamily, and landowners, utilizing technologies like photovoltaics, battery storage, EV charging, and artificial intelligence.
- Headquarters Dallas, United States
- Stage Acquired
- SectorsEnergy & Utilities
- Website aspenpower.com
- Social LinkedIn X
- Acquired by The Carlyle Group (Nov 2022)
- Total Equity Funding$120M (USD)
in 5 rounds
- Latest Funding Round$200M (USD), Debt – Conventional
Jan 2026
- InvestorsMUFG Bank
& 7 more
- Investments & Acquisitions
- Acquired byThe Carlyle Group
(Nov 2022)
Products & Services of Aspen Power
Aspen Power offers a comprehensive portfolio of products and services, including Solar Development, Project Financing, O&M and Project Optimization, Battery Storage, and EV Charging.
Develops solar projects for businesses and communities
Provides funding for renewable energy initiatives
Optimizes and maintains solar energy systems
Offers solutions to store and manage energy
Provides solar-powered electric vehicle charging
Funding Insights of Aspen Power
Aspen Power has successfully raised a total of $120M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $200 million completed in January 2026. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $120M
- Total Rounds 5
- Last Round Debt – Conventional — $200M
- First Round $120M
(Feb 2022)
- Investors Count 8
All 5 funding rounds of Aspen Power with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2026 | $200M | Debt – Conventional | – | – | |
| Feb 2025 | Series D | – | – | ||
| Jan 2024 | $241M | Debt – Conventional | – | – | |
| Jul 2023 | $90M | Debt – Conventional | – | – | |
| Feb 2022 | $120M | Series D | – | Ultra Capital |
8 investors in total: 8 institutional.
Investors in Aspen Power
Aspen Power has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include MUFG Bank, J P Morgan and First Citizens Bank.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investments are directed toward multiple sectors. | 1986 | carlyle.com | ||
| redballpower.tcc.mode | ||||
Comprehensive financial services are provided to corporations and individuals. | 1799 | jpmorgan.com | New York, United States | |
Provider of wealth management services | 1796 | lombardodier.com | Geneva, Switzerland | |
Provider of full banking services | 2001 | mufg.jp | Chiyoda City, Japan | |
Commercial banking services are provided to individuals and businesses. | 1898 | firstcitizens.com | Raleigh, United States | |
Infrastructure fund manager | 2015 | ultracapital.com | San Francisco, United States | |
| db.com |
Investor details for Aspen Power
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Aspen Power
25 people are tracked at Aspen Power (14 in leadership, 11 in team).
| Name | Role | Group |
|---|---|---|
Scott Delaney | Co-Founder & COO | Leadership |
Dan Gulick | Senior Vice President, Co-founder | Leadership |
Nick Sumrell | Director, Project Controls | Leadership |
Jim Kauffman | Executive Director, Construction | Leadership |
Jorge E. Vargas | CEO | Leadership |
Ryan O’hanlon | Director, Corporate Development | Leadership |
Pauline J. | Director - Project Finance | Leadership |
Michael Windels | Director, Compliance & Reporting | Leadership |
Rodney Wiltshire | Director Of Engineering | Leadership |
Logan Boutilier | Vice President - Systems And Engineering | Leadership |
Andrew Blevin | Chief Risk Officer | Leadership |
Alexandra Rodriguez | Director of Electrical and PV Engineering | Leadership |
Eric Aubrey | VP, Execution | Leadership |
Dwaine Reid | Director, Tech. Asset Management | Leadership |
Meldin K. | Manager, Software Engineering & AI | Team |
Bill Delong | EVP, Corporate Development & Strategy | Team |
Padraig O'Doherty | Construction Project Manager | Team |
Sophia Feldman | Project Development Associate | Team |
Kristina Segura | SVP, Human Resources | Team |
John Duer | General Counsel, Safari Energy | Team |
5 more people are available in the full profile.
Complete people profiles for Aspen Power
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Investments & Acquisitions by Aspen Power
Aspen Power has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Safari Energy.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Turnkey solar solutions are provided for commercial applications. | safarienergy.com | New York, United States | 2008 | Sep 2022 | •••• |
Complete acquisition details for Aspen Power
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
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Timeline of Aspen Power
5 dated milestones of Aspen Power across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Aspen Power is founded.
- Funding First funding round of $120.0M.
- Acquisition Acquires Safari Energy.
- Exit Acquired by The Carlyle Group.
- Funding Latest funding round, Debt – Conventional, of $200.0M.
Competitors of Aspen Power
Aspen Power has 3 listed competitors in our database, 3 of them funded. They include Enel X, Recurrent Energy and Longroad Energy.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| enelx.com | 2001 | Boston, United States | $168M | 513 | Utility-scale renewable energy projects are developed by Enel X. | |
| recurrentenergy.com | 2006 | San Francisco, United States | $585M | Utility-scale solar projects are developed and owned by Recurrent Energy. | ||
| longroadenergy.com | 2016 | San Francisco, United States | $500M | 153 | Utility-scale wind and solar power projects are developed. |
Detailed competitors of Aspen Power
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Aspen Power
The website of Aspen Power (aspenpower.com) receives about 7.1K visits a month.
- Monthly visits7.1K
▲ 102.4% vs previous month
Websites whose visitors overlap most with Aspen Power. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| nextgrid.com | 100% | 2.1K | #7,015,746 | View details |
Top companies in Renewable & Sustainable Energy
3 companies that operate in the same segment as Aspen Power (Renewable & Sustainable Energy) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Utility-scale renewable energy projects are developed by Enel X. | 2001 | Boston, Massachusetts, United States | USD 168.67 M | |||
Sustainable energy solutions are developed and operated worldwide. | 2000 | Chicago, Illinois, United States | USD 575 M | 1,276 | ||
Solar energy services are provided to residential customers nationwide. | 2007 | San Francisco, California, United States | USD 296.98 M | USD 2.96 B | 11,060 |
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Related news about Aspen Power
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Frequently Asked Questions about Aspen Power
Aspen Power was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Aspen Power is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Aspen Power is a funded company, having raised a total of $120M across 5 funding rounds to date. The company's 1st funding round was a Series D of $120M, raised on Feb 2022.
Provider of renewable energy asset development, construction, and operation services. It partners with businesses and communities to develop, construct, and operate renewable energy assets and storage. It specializes in project finance, solar development, and operations and maintenance and project optimization. It offers solutions for community solar, commercial and industrial solar, public sector, multifamily, and landowners, utilizing technologies like photovoltaics, battery storage, EV charging, and artificial intelligence.
Aspen Power's top competitors include Enel X, Longroad Energy and Recurrent Energy.
Aspen Power offers Solar Development, Project Financing, O&M and Project Optimization, Battery Storage, and EV Charging.
Aspen Power has made 1 acquisition, including Safari Energy.
Aspen Power has 8 investors. Key investors include MUFG Bank, J P Morgan, First Citizens Bank, The Carlyle Group, and Lombard Odier.
Yes. Aspen Power was acquired by The Carlyle Group in November 2022.