Distributed Solar and Storage Fund Holds First Close as U.S. Power Demand Accelerates

Aligned Climate Capital has held the first close of Aligned Solar Partners 7 (ASP7), its latest infrastructure fund targeting $500 million to acquire construction-ready distributed solar and energy storage projects across the United States. The first close includes commitments from existing investors in Aligned's ASP strategy, including the Bush Foundation, building on an approach the firm has used across six prior infrastructure funds since 2018.

 

ASP7 will acquire construction-ready solar and storage projects sourced from development partners, finance their build-out, and manage the assets through operations, targeting the middle-market segment of distributed solar and storage nationally. Since 2018, Aligned has acquired 56 projects across 10 states through its ASP funds as of June 30, 2026, with the operating portfolio generating more than 218 GWh of clean energy. Recent platform activity includes construction financing for two Delaware community solar projects and the acquisition of a community solar project in Illinois.

 

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The fund's launch comes as US electricity demand rises for the first time in decades, driven by data centre expansion, industrial reshoring and transportation electrification, while new natural gas capacity faces multi-year turbine delivery timelines. Aligned frames solar and storage as able to be financed, permitted and built faster than most alternatives, positioning them as leading sources of new US power capacity as a result.

 

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Aligned Climate Capital chief executive Peter Davidson said "distributed solar and energy storage are now among the fastest ways to add reliable capacity to the grid, and the middle market is where much of that build-out actually happens," adding that "these projects need specialized financing and execution, which is what we have built the firm to do." Bush Foundation Managing Director of Investments Brendon Reay said the foundation's investment "reflects our commitment to impactful sustainability solutions," noting a belief that "investment capital can support meaningful climate solutions while advancing our long-term investment objectives."

 

Aligned has identified more than 500 MW of potential projects for ASP7, giving visibility into deployment opportunities as the fund continues fundraising, and expects to make its initial investments through the fund in the coming months.