AES Buys Main Street Power for Distributed Generation Growth

AES Buys Main Street Power for Distributed Generation Growth

Andreas Rentz/Getty Images News

AES Corp., Arlington, Va., a power producer with operations in 18 countries on four continents, bought the solar developer Main Street Power Co., Boulder, Colo., to expand its distributed-generation business.

Main Street Power, which will now be named AES Distributed Energy (in fact it’s already changed on the company’s website), is a developer, owner and operator of distributed photovoltaic (PV) power systems through power purchase agreements (PPAs). It will retain its existing leadership.

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 in a release. Terms weren’t disclosed. Altogether AES has about 35 gigawatts of generating capacity and is developing another 7 gigawatts.

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