AES Corp. acquires Boulder-based Main Street Power

BOULDER – Arlington, Va.,-based global power company AES Corp. (NYSE: AES) has acquired Boulder-based solar firm Main Street Power Co. Inc., according to a statement from AES.

The deal reached last month will help AES Corp. accelerate growth of distributed generation solar capacity in key markets, according to AES Corp. Main Street Power owns and operates distributed photovoltaic solar systems. The company has more than 200 commercial projects nationwide with the capacity to supply electricity to the equivalent of more than 17,000 homes annually.

Financial terms of the deal were not disclosed in an announcement issued last week. Main Street Power employees and leadership will continue to work in Boulder, though the company’s name will change to AES Distributed Energy.

“As part of AES, we see tremendous opportunity to build on and grow the environmental, economic and social benefits that distributed solar generation brings to the communities, homeowners, schools, municipalities, businesses and utilities we serve,” Amory Host, CEO of AES Distributed Energy, said in a statement.

By acquiring Main Street Power, AES will add nearly 60 megawatts of photovoltaic solar generation throughout the U.S. and another 100 megawatts of projects in development in North America. AES has a 35-megawatt portfolio of generation and another 7 gigawatts under construction.

AES Corp., which had revenue of $17 billion last year, owns and manages $39 billion in total assets. The company has operations in 18 countries.

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