Aggreko’s Energy Transition Solutions division is to become the strategic capital partner for the Farmers Powering Communities community solar initiative in the USA. Aggreko ETS will provide capital and additional development expertise to the partnership and will also own and operate several community solar assets.
Formed in 2022, Aggreko ETS focuses on developing, owning, and operating clean energy infrastructure in North America through long-term investment and partnerships from within Aggreko. Farmers Powering Communities is an ideal fit as an investment opportunity for Aggreko ETS, as the initiative brings together a development firm in Edelen Renewables that is pioneering ‘social solar impact, with the USA’s leading farmland preservation organisation, American Farmland Trust and Arcasia, the country’s largest subscriber of community solar power. Through Farmers Powering Communities, Aggreko ETS will join the three firms in working together to realise the building out of 500 MW of community solar projects during this decade.
Adam Edelen, founder & CEO of Edelen Renewables, commented, “Bringing together those working to feed the planet with those working to save it in an initiative to build a 500 MW, $1 billion portfolio of community solar is a [huge], historic undertaking. Doing so requires a strategic partner that … shares our values [and] has the expertise and capital resources to help us make history in communities all over America.”
John Piotti, AFT president and CEO, commented. “We … know that farms can be part of the solution to the climate crisis. Farmland can draw carbon from the air to rebuild soil when farmed using climate-smart practices like cover crops and reduced tillage. We need to dramatically ramp up solar energy production while retaining our farms and ranches.”