Led by industry veteran Eric Shannon, Stellera will focus on developing
end-to-end community solar projects
DENVER, March 28,
2024 /PRNewswire/ -- Aardex, a data-driven,
community-minded real estate investment and development firm that
has built out more than 1.5 million square feet of projects over
the last 40 years, today announced the launch of a new company,
Stellera, which will focus on end-to-end development of community
solar projects with a focus on communities disproportionately
impacted by the energy transition.
The launch comes at a pivotal time for the energy industry. Amid
a changing regulatory environment, communities nationwide are
moving toward renewable energy sources to meet ambitious state and
federal decarbonization targets. Demand for renewable energy is
anticipated to grow exponentially in the coming years, with
community solar as a leading growth market. In the next five years,
community solar is expected to grow by an annual average of 8%
with nearly 14 gigawatts (GW) of cumulative capacity expected by
2028.
"Aardex has a decades-long track record of successfully
developing projects that positively impact communities," said
Caleb Hebel, Principal for Aardex
and Stellera. "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.
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."
Along with Hebel, Stellera will be helmed by Eric Shannon, an industry veteran with nearly a
decade of energy project development experience. Shannon will
oversee Stellera's clean energy initiatives, primarily focused on
community solar opportunities. Before joining Stellera, Eric
managed utility-scale solar and wind projects totaling over 5
gigawatts in SPP and MISO with Invenergy.
Stellera is actively seeking project development opportunities
and will focus primarily on community solar projects in the Rocky
Mountain and Midwest regions. Collaborating with landowners,
communities, utilities, and stakeholders, Stellera works to
identify optimal land locations, assess the constructability of
sites, secure grid access, explore state incentives, and maximize
project value. Employing a data-driven development approach,
Stellera aims to minimize risk and maximize positive impact for
both partners and the communities it serves.
For more information on Stellera and how it's bringing clean
energy to North America, visit:
www.stellera.com.
About Stellera
Founded in 2024, Stellera is a clean energy investment and
development firm that develops end-to-end renewable energy projects
across the Rocky Mountain and Midwest regions. The company
champions a data-driven approach to developing clean energy
solutions, focusing on community solar. Stellera is a subsidiary of
Aardex, combining experience in development with a proven track
record in sustainable energy projects. To learn more, please visit:
www.stellera.com
About Aardex
Aardex is a data-driven, community-minded real estate investment
and development firm focused on making a positive impact in the
built environment. Our developments have historically spanned
geographies and industries in healthcare, multifamily, office,
government, and commercial work. Beyond projects, Aardex invests in
the environment, the communities in which we operate, and
philanthropic endeavors with the goal of doing well by doing good.
For more information about Aardex, please visit
www.aardexcorp.com.
Contact:
Sarah
Cullen
Sarah@sidecarpr.com
303-931-19190
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SOURCE Stellera Energy