Aspen Power acquired two operating rooftop solar projects totaling 6.44 MWdc from industrial real estate developer The Avidan Group. The projects are located in PSE&G territory in New Jersey, have operated for more than a decade, and generate over 7 million kWh annually.

The deal shows a clear shift in New Jersey rooftop solar M&A: buyers are not only chasing new development pipelines. They are also acquiring older, operating C&I solar systems where building owners want to monetize assets and refocus on real estate operations.

Aspen Power is positioning itself as a long-term owner of distributed generation assets. For The Avidan Group, the transaction converts legacy solar ownership into value while reducing operating complexity across its industrial property portfolio.

This follows a broader U.S. solar M&A pattern. Investors are prioritizing operational and advanced-stage portfolios as tax, permitting, and financing risks reduce appetite for early-stage projects. Enerdatics noted that U.S. solar M&A in 2025 has shifted toward de-risked assets with secure offtake, interconnection progress, and operating visibility.

The commercial signal is important. Smaller C&I rooftop portfolios can still attract specialist buyers when they have long operating histories, known production, and strong host relationships.

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