Altus Scoops Up Three-State Solar Portfolio

Altus Power America Inc. has completed the acquisition of a multi-state portfolio of operating rooftop and carport solar assets.

The 2.2 MW portfolio sells renewable energy to off-takers, including a charter school and private corporations, in the states of Colorado, New Jersey and New Mexico. Altus acquired the portfolio from an undisclosed renewable energy services provider specializing in distributed generation solar projects.

Together, the three solar projects generate approximately 2.9 million kWh of electricity annually, enough energy to power the equivalent of 240 homes.

“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,” says Adam Constantinides, associate at Altus Power. The Greenwich, Conn.-based company invests in, owns and operates clean energy projects that serve commercial and public-sector clients.

“Altus Power is focused on aggressively expanding its solar portfolio by both developing greenfield and acquiring operating solar projects,” adds Gregg Felton, managing partner of Altus. “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.”

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