Deutsche Bank has committed $200 million in new capital to Aspen Power, a distributed‑generation platform backed by Carlyle, to accelerate its nationwide rollout of community solar, commercial‑industrial, and storage projects. The funding will support development, vendor engagement, and project deployment across the United States.
The commitment follows a series of successful funding rounds for Aspen Power, including a $350 million investment from Carlyle in November 2022 and more than $200 million of financing secured in February 2025 from MUFG and BMO. The new capital will allow Aspen Power to scale its platform, increase project pipeline velocity, and deepen relationships with developers and utilities.
For Deutsche Bank, the deal represents a strategic extension of its renewable‑energy portfolio. The bank has already invested €5 billion in a wind‑energy initiative with the European Investment Bank and $258 million in project financing for Intera Renewables in Australia. The $200 million commitment signals confidence in the distributed‑generation market, which is projected to grow at a compound annual growth rate of 12 % over the next decade.
Management comments underscore the partnership’s value. Aspen Power CEO Jorge Vargas said the financing “strengthens our ability to originate, develop, and deliver high‑quality distributed solar and storage projects at scale.” Deutsche Bank’s Head of Infrastructure and Energy Financing, Jeremy Eisman, noted that the bank’s support aligns with its goal of providing flexible development capital for the low‑carbon transition.
The transaction also expands Deutsche Bank’s exposure to the U.S. renewable‑energy sector, potentially enhancing future revenue streams from financing and advisory services. With the capital in place, Aspen Power is positioned to capture a larger share of the growing distributed‑generation market and deliver returns to its investors.
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