Episode Description

The distributed generation market is shifting rapidly as capital tightens, power prices rise, and smaller developers bump up against capital and market constraints. Independent power producers (IPPs) like Aspen Power are stepping in to bridge the gap—partnering with developers, securing financing, and scaling solar assets in key markets. But what does it take to succeed in today’s distributed energy sector? And what does distributed energy mean in today’s evolving market?

Jorge Vargas, co-founder and CEO of Aspen Power, has spent over two decades in structured finance and solar project development, with past roles at Morgan Stanley, Bank of America, and Lennar Homes. Aspen Power emerged from his work at Energy Impact Partners, where he identified the need for a full-scale IPPs focused on distributed generation. Backed by private equity firm Carlyle, Aspen Power has grown rapidly, now managing over 250MW of assets. Jorge breaks down how they are reshaping distributed generation through innovative financing, project buybacks, repowering existing assets, and long-term investment in clean energy infrastructure. 

Expect to learn:

  • Why smaller developers are struggling to access capital—and how Aspen is helping
  • The four market segments driving distributed generation today
  • How Aspen’s buyback strategy is unlocking new value in older solar assets
  • The role of Safe Harbor in securing ITC benefits amid policy uncertainty
  • The biggest regulatory and financial challenges facing developers in 2025

Noteworthy Quotes:

“One of the most rewarding things in the industry is that it attracts a certain type of person, someone that's very open minded. So I would like to encourage people to join us and help us decarbonize as well, because we need it.” - Jorge Vargas
“We are a distributed generation IPP that focuses on solar projects that are interconnected at a distribution utility, what we try to do is build these distribution plants in different markets in order to provide clean and affordable power to our customers.”- Jorge Vargas

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Nico Johnson

Entrepreneur & Podcaster

In my 20 year career, I've worked with dozens of entrepreneurs, intrapreneurs and professionals in transition to clarify their mission, set or stretch their goals, and work through the barriers to their growth.

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