Altus Power Acquires Multistate Portfolio of Solar Assets
Altus Power America has completed the acquisition of a multistate portfolio of operating rooftop and carport solar assets. The 2.2 megawatt (MW) DC portfolio of solar energy systems sell clean, renewable energy to offtakers including a charter school and private corporations in the states of Colorado, New Jersey and New Mexico. Altus acquired the portfolio from a prominent renewable energy services provider specializing in distributed generation solar projects.
“Altus Power is pleased to have worked with the seller to accommodate an expeditious and successful closing. We are excited to have expanded Altus’ footprint into new jurisdictions,” said Adam Constantinides, Associate of Altus Power. Managing Partner of Altus, Gregg Felton added, “Altus Power is focused on aggressively expanding its solar portfolio by both developing greenfield and acquiring operating solar projects. As a long-term owner with an exclusive focus on solar assets, we believe Altus is particularly well positioned to acquire complex portfolios of distributed generation solar assets across the country.”
Together, the three solar projects generate approximately 2.9 million kilowatt hours (kWh) of electricity annually, enough energy to power the equivalent of 240 homes.