AES Corp. Acquires Community Energy

• AES Corporation has acquired utility scale solar and storage project developer Community Energy Solar in the US
• The acquisition adds to the company's renewables portfolio 10 GW project pipeline
• AES says this will boost its future expansion efforts with a strong pipeline and skilled manpower

AES Corporation, an electricity distributor in the US, has expanded its solar energy development portfolio by 10 GW with the acquisition of utility scale solar and storage developer Community Energy Solar, LLC. The latter also deals in community solar in select markets.

According to AES this acquisition will boost its future expansion efforts with a strong pipeline and skilled development workforce.

"The addition of Community Energy and its 10 GW pipeline to AES will complement our efforts to deliver highly innovative products to customers with a strong pipeline that now totals more than 40 GW across the country and an industry-leading development team to advance projects," said AES Clean Energy President Leo Moreno.

Community Energy has so far developed over 3 GW of solar and storage projects. "Driven by the urgency of the climate crisis and the need for 10x growth in solar over the next decade, we decided it was time to amplify our impact by joining forces with a world-class partner," added Community Energy CEO, Brent Beerley.

AES counts its US portfolio to comprise 4.4 GW of operational renewables capacity with power purchase agreements (PPA) signed for 5.7 GW. The company aims to close 2021 with 5 GW of renewable energy PPAs while claiming to have 9.2 GW of such PPAs in the backlog which need to come online by 2024 (see North America PV News Snippets).