Solar and energy storage now account for the majority of new power capacity being built in the United States, and a new infrastructure fund is targeting more of that buildout. Aligned Climate Capital (Aligned) has held the first close of Aligned Solar Partners 7 (ASP7), its latest infrastructure fund focused on middle-market distributed solar and energy storage nationwide.
ASP7 is targeting $500 million to acquire construction-ready solar and storage projects sourced from development partners, finance their build-out, and manage the assets through operations. The first close includes commitments from existing investors in Aligned’s ASP strategy, including the Bush Foundation. ASP7 builds on the approach Aligned has used across its six prior infrastructure funds since 2018.
“We believe investment capital can support meaningful climate solutions while advancing our long-term investment objectives,” said Brendon Reay, Managing Director, Investments at the Bush Foundation. “Our investment in Aligned’s distributed solar and storage infrastructure strategy reflects our commitment to impactful sustainability solutions.”
Aligned has executed the strategy since 2018, acquiring 56 projects across 10 states through its ASP funds as of June 30, 2026. Across its operating portfolio, ASP projects have generated more than 218 GWh of clean energy. Recent activity across the platform includes construction financing for two Delaware community solar projects and the acquisition of a community solar project in Illinois, demonstrating the strategy in action.
“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,” said Peter Davidson, CEO of Aligned Climate Capital. “These projects need specialized financing and execution, which is what we have built the firm to do. The continued support from our investors gives us the capital to keep acquiring and building construction-ready projects.”
U.S. electricity demand is rising for the first time in decades, driven by data center expansion, industrial reshoring, and transportation electrification, while new natural gas capacity faces multi-year turbine delivery timelines. Solar and storage can be financed, permitted, and built faster than most alternatives, which is why they lead new U.S. power capacity today.
Aligned has identified more than 500 MW of potential projects for ASP7, providing visibility into deployment opportunities as the fund continues fundraising. The pipeline builds on Aligned’s existing relationships with development partners and reflects the scale of projects the firm is evaluating for deployment through the strategy.
For more information on Aligned Climate Capital, visit AlignedClimateCapital.com.
About Aligned Climate Capital
Aligned Climate Capital LLC is an asset manager investing exclusively in the companies and projects driving the clean energy transition. Founded in 2019, Aligned currently manages approximately $2.2 billion of assets (as of 12/31/25). The firm’s senior leadership team brings decades of climate and clean energy experience across finance, energy markets, and government.
Aligned has two primary investment strategies: the Aligned Climate Fund, which provides capital to venture-stage companies deploying and scaling established clean energy solutions, and Aligned Solar Partners, which owns and operates distributed solar, energy storage, and other clean energy projects.
For more information, visit AlignedClimateCapital.com.
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