Aspen Power, a US-based distributed generation platform, has acquired two community solar projects in upstate New York as part of its 18 MW DC acquisition portfolio. The projects were developed by CTEC Solar and together account for nearly 7 MW, marking the first completed acquisitions within the portfolio. Aspen Power has indicated that the projects are expected to generate nearly 10 TWh of electricity in their first year of operation, equivalent to the annual electricity consumption of approximately 2,700 homes. Both projects will operate under New York State’s Value of Distributed Energy Resources program, which compensates distributed generation while offering subscribers discounted utility rates. The acquisitions come amid rising electricity costs in upstate New York, where delivery rate increases have been proposed by New York State Electric & Gas and approved for National Grid. Recently, Aspen Power has secured a $200 million capital commitment from Deutsche Bank for US distributed solar and storage development.