AES Corp. has acquired Colorado-based Main Street Power Co. Inc. which owns distributed generation solar projects across the US.
Financial details of the acquisition were not disclosed. Main Street owns 60 megawatts of operational distributed generation solar projects across the US and an additional 100MW of projects in development in the US, Caribbean and Latin America. It sells long-term distributed solar power to clients by combining power-purchase agreements with government and utility incentives.
AES will continue to maintain the existing leadership and broader team following the acquisition. Main Street will be known renamed as AES Distributed Energy, with the aim of expanding in other markets that AES is active in.