SOLAR

Stellera Drives Renewable Energy with Community Solar Projects in the Rocky Mountain and Midwest Region

April 27, 2024

Stellera, founded by Aardex, is committed to community solar projects.
Community solar is projected to grow at 8% annually, reaching nearly 14 GW by 2028.
Stellera adopts a data-driven approach, collaborating with stakeholders to minimize risk and maximize positive impacts in the Rocky Mountain and Midwest regions.

Stellera, a new clean energy investment and development firm, is leading the charge in bringing renewable energy to communities across the Rocky Mountain and Midwest regions. Launched by Aardex, a seasoned real estate investment and development firm with over 40 years of experience, Stellera’s goal is to make a positive difference by overseeing every aspect of community solar project development.

The emergence of Stellera comes at a crucial time for the energy sector. As the regulatory landscape shifts, many communities are seeking renewable energy solutions to meet ambitious state and federal decarbonization targets. With demand for renewable energy projected to grow exponentially, community solar is positioned as a key driver of this growth. In fact, industry forecasts predict community solar will experience an annual growth rate of 8%, reaching nearly 14 gigawatts (GW) of cumulative capacity by 2028.

Stellera’s focus on community solar aligns with Aardex’s commitment to sustainable development. Aardex has a rich history in real estate investment, focusing on sustainable and community-minded projects across various industries, including healthcare, multifamily, office, government, and commercial work. This extensive experience provides Stellera with a strong foundation to deliver successful renewable energy projects.

Caleb Hebel, Principal at Aardex and Stellera, stresses the significance of integrating clean energy into community growth. “Stellera is the natural evolution of our growing understanding that incorporating clean energy is essential to the security, resilience, and long-term prosperity of our communities,” he explained. “Our team brings extensive experience navigating the often-complex process of seeing renewable energy projects through to fruition, and we look forward to working alongside communities and utilities to continue to increase access to clean energy opportunities.”

Stellera’s leadership includes Eric Shannon, an industry veteran with nearly a decade of energy project development experience. Shannon, who has managed utility-scale solar and wind projects totaling over 5 gigawatts in the Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO), brings a wealth of knowledge to Stellera’s clean energy initiatives. He will primarily focus on community solar opportunities in the Rocky Mountain and Midwest regions.

Stellera’s data-driven approach to project development involves collaborating with landowners, communities, utilities, and other stakeholders to identify optimal land locations, assess constructability, secure grid access, explore state incentives, and maximize project value. This comprehensive strategy helps Stellera minimize risk while maximizing the positive impact on partners and the communities it serves.