As the clean energy sector is undoubtedly on an upward trajectory, companies like the just-launched Stellera, a clean energy investment and development firm that develops end-to-end renewable energy projects, are part of the historic investment in the growth of community solar. By removing the barriers to capital access in a traditionally difficult borrowing market, Stellera aims to expand opportunities for communities disproportionately impacted by the energy transition.

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Aardex Debuts Stellera: Championing End-to-End Clean Energy Development Across the Rocky Mountain and Midwest regions

Led by industry veteran Eric Shannon, Stellera will focus on developing end-to-end community solar projects

DENVER - (March 28, 2024) 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.

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