(Bloomberg) — AES Corp., a power producer with operations
in 18 countries on four continents, bought the solar developer
Main Street Power Co. to expand its distributed-generation
business.
The all-cash deal gives AES about 60 megawatts of solar
capacity across the U.S. and another 100 megawatts under
development in the U.S., Caribbean and Latin America, AES said
today in a statement. Main Street Power, based in Boulder,
Colorado, has been renamed AES Distributed Energy and will
retain its existing leadership. Terms weren’t disclosed.
AES said the purchase will “foster the development” of
distributed-generation — solar systems that are installed close
to where the energy is consumed, such as rooftop panels. The
Arlington, Virginia-based company has about 35 gigawatts of
generating capacity and is developing another 7 gigawatts.
“We see tremendous opportunity to build on and grow the
environmental, economic and social benefits that distributed
solar generation brings,” said Amory Host, chief executive
officer of AES Distributed Energy.
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Will Wade at
wwade4@bloomberg.net;
Reed Landberg at
landberg@bloomberg.net
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