Aspen Power Partners Expands Development Warehouse Facility with Lombard Odier Investment Managers (LOIM) Sustainable Private Credit Strategy
DALLAS–(BUSINESS WIRE)–Aspen Power Partners (“Aspen”), a renewables-focused distributed generation platform with the dual mission of accelerating and democratizing decarbonization, announced today the upsizing of its $25 million senior-secured first-lien development warehouse facility provided by Lombard Odier Asset Management Corp. (USA) on behalf of funds under its management. These funds include the LOIM Sustainable Private Credit Strategy managed by Peter Pulkkinen and Rhys Marsh, which was recently backed by the Environment Agency Pension Fund (UK).
The Aspen team is currently executing on hundreds of megawatts of solar and storage projects across California, Maine, Maryland, Massachusetts, New York and Pennsylvania. “True to our mission, we are working hard to remove obstacles for customers and partners in pursuit of gigawatt-scale zero-carbon impact, and this facility further catalyzes and accelerates our development pipeline. We were aware of Peter and Rhys’ reputation at the Avenue Sustainable Solutions Strategy and selected them at our growth inflection point due to their collaborative approach, market leadership in sustainable investing, and innovative strategy delivering flexible, tailored credit solutions to climate-aligned businesses. Our stakeholder-aligned approach serves consumers of all income levels and helps support everyday American families and small businesses by providing long-term power bill savings,” said Jorge Vargas, Co-Founder at Aspen Power Partners.
Aspen’s community solar, multifamily, and commercial and industrial rooftop projects are providing climate solutions via access to clean distributed energy for consumers and businesses across all income levels and hard-to-reach property types. Aspen’s development and construction activities strengthen communities, help farmers and other landowners preserve their property and livelihoods for future generations, make buildings more sustainable, support more than a thousand local jobs, and create bill savings for tens of thousands of low-and-moderate-income households, local businesses, and other customers.
For more information about Aspen Power Partners, please visit aspenpower.com.
ABOUT ASPEN POWER PARTNERS
Aspen Power Partners (Aspen) is a distributed generation platform with the dual mission of accelerating and democratizing decarbonization. The firm develops and finances community, multifamily, and other distributed solar and storage installations enabling consumers of all income levels to access clean renewable energy. The Aspen team is comprised of seasoned professionals across the development, construction, project finance and asset management industry. Aspen is headquartered in Dallas, TX with locations throughout the U.S. For more information, please visit aspenpower.com.
ABOUT LOMBARD ODIER INVESTMENT MANAGERS
Lombard Odier Investment Managers (LOIM) is the asset management division of Lombard Odier Group, the 226 year-old, independently owned, Swiss private bank and a leader in sustainable investing. In 2019, Lombard Odier received B Corp certification from leading non-profit B Lab, in recognition of its corporate sustainability practices. With more than 180 investment professionals, LOIM is a global business with a network of 13 offices across Europe, Asia and North America. The firm manages over USD 75 billion in equity, fixed income, and alternative assets for institutions and private clients (as of 31 December 2021).
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