HOUSTON, May 19, 2023 (GLOBE NEWSWIRE) -- Aggreko, the world’s leading provider of mobile modular power, temperature control and energy services, today announced that the company’s IPP Solutions division will become the strategic capital partner for the Farmers Powering Communities community solar initiative. IPP Solutions will provide capital and additional development expertise to the partnership and will also own and operate several community solar assets.
Formed last year, IPP Solutions 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 investment opportunity for IPP Solutions, as the initiative brings together a development firm pioneering “social impact solar” in Edelen Renewables; America’s leading farmland preservation organization, American Farmland Trust; and the nation’s largest subscriber of community solar power, Arcadia. Through Farmers Powering Communities, IPP Solutions will join the three firms in working together to realize the building out of 500MW of community solar projects this decade.
“We’re excited to provide vital support to the community solar efforts of Farmers Powering Communities,” said Prashanth Prakash, IPP Solutions' Chief Commercial Officer. “Expanding access to community solar, which offers a cost-efficient way for people to use solar energy, aligns with our mission to accelerate the energy transition through clean energy infrastructure that delivers reliable, economic energy. Working together, we are confident of our success in bringing the economic and environmental benefits of community solar to small-town America.”
Adam Edelen, Founder & CEO of Edelen Renewables, added, “Bringing together those working to feed the planet with those working to save it in an initiative to build 500MW, $1 billion portfolio of community solar is a massive, historic undertaking. Doing so requires a strategic partner that not only shares our values but has the expertise and capital resources to help us make history in communities all over America. In IPP Solutions, we’ve found our ideal partner.”
“Farmers are on the frontlines of climate change, experiencing extreme weather events that impact their crops, livestock and livelihoods,” said John Piotti, AFT president and CEO. “We also 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. That’s what this partnership is all about. Doing solar the right way and putting it in the right place is what we call Smart Solar.”
Independent Power Producer Solutions (IPP Solutions), a division of Aggreko Ltd., develops, owns, and operates utility scale and distributed solar and battery storage projects across the United States. IPP Solutions generates value by providing turnkey energy transition solutions to its customers that deliver affordable, reliable, and clean power. For more information, visit IPP Solutions.