Altus Power America Upsizes Capital by $150 Million to be Invested in Large Commercial, Industrial, Community and Utility-Scale Solar Projects
- Altus Power is already an investment leader in C&I solar and the new capital is specifically designed to allow the company to more aggressively compete for larger projects characterized by less cash flow variability and more competitive yields.
- This funding is in addition to the $333 Million Altus Power previously raised and which is being deployed in Altus Power's traditional C&I solar investment business.
- Altus Power has been investing in solar projects since 2009.
GREENWICH, Conn., Dec. 4, 2017 /PRNewswire/ -- Altus Power America ("Altus Power"), a market leader in solar power project investments, has increased its investment capital by $150 million. The additional capital is earmarked towards investments in larger commercial, community and small utility scale solar projects. These types of projects offer lower yields since their cash flow and off-taker profile is typically lower risk than many distributed generation C&I projects.
"With this additional capital, Altus Power is excited to be growing its platform for solar investments and is now very well positioned to provide competitive capital for a significant sector of the market," said Gregg Felton, Managing Partner, Altus Power.
Altus Power, with more than 50 operational solar projects in the US totaling approximately 100MWs, offers solar developers and construction companies the full suite of financial services and is a flexible partner in developing solar assets. Altus' flexibility includes investing in projects with SREC exposure, below investment grade or non-rated power buyers, community solar farms, net metering credits, floating rate PPAs, or a variety of other project complexities. In addition to investing in operational and construction-ready solar projects, Altus Power invests capital to develop projects in the form of early land option payments or feasibility studies with the aim of creating value for investors and clean energy savings for its clients.
About Altus Power America
Altus Power America is a Greenwich, CT-based company that invests in, owns and operates clean energy projects. The partners' financial expertise and backgrounds in construction, engineering and design combined with the firm's institutional sponsorship provide an efficient and scalable platform to provide renewable energy and solar solutions to commercial and public sector clients. Visit www.altuspower.com for more information.
Media: Contact Altus Power at 203.698.0090 or [email protected]
SOURCE Altus Power America, Inc.
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