Aligned Climate Capital has held the first close of Aligned Solar Partners 7, its latest infrastructure fund focused on acquiring and building distributed solar and energy storage projects across the U.S.
The fund is targeting $500 million in commitments and will invest in construction-ready solar and storage projects sourced from development partners.
Aligned plans to finance project construction and manage the assets through operations.
The first close includes commitments from existing investors in the firm’s Aligned Solar Partners strategy, including the Bush Foundation.
ASP7 builds on a distributed energy infrastructure strategy Aligned has operated since 2018 across six prior funds.
Through June 30, 2026, those funds had acquired 56 projects across 10 states.
Projects in the operating portfolio have generated more than 218 GWh of clean energy.
Recent activity has included construction financing for two community solar projects in Delaware and the acquisition of a community solar project in Illinois.
Aligned expects to begin making investments through ASP7 in the coming months.
The firm has already identified more than 500 MW of potential projects for the fund, providing a pipeline of opportunities as fundraising continues.
Aligned is targeting a segment of the market that it believes is becoming increasingly important as U.S. electricity demand rises.
The company pointed to data center development, industrial reshoring and transportation electrification as major drivers of renewed power demand.
At the same time, new natural gas generation faces multi-year turbine delivery timelines, creating an opportunity for solar and battery storage projects that can often be financed, permitted and built more quickly.
Solar and storage now account for the majority of new generating capacity being added in the U.S.
Aligned believes the middle market represents a particularly important portion of that buildout because many smaller distributed projects require specialized financing and operational expertise.
The firm’s Aligned Solar Partners strategy acquires distributed solar, storage and other clean energy infrastructure rather than solely investing in developers or technology companies.
Aligned Climate Capital manages approximately $2.2 billion of assets as of December 31, 2025.
The firm focuses exclusively on companies and projects supporting the clean energy transition.
Its two principal strategies include the Aligned Climate Fund, which invests in venture-stage clean energy companies, and Aligned Solar Partners, which owns and operates distributed energy infrastructure.
KEY QUOTES:
“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. 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.”
Peter Davidson, CEO Of Aligned Climate Capital
“We believe investment capital can support meaningful climate solutions while advancing our long-term investment objectives. Our investment in Aligned’s distributed solar and storage infrastructure strategy reflects our commitment to impactful sustainability solutions.”
Brendon Reay, Managing Director Of Investments At The Bush Foundation
