Altus Power Buys 92 Arevon Solar Projects, Reaches 1.7 GW

• Altus Power bought 92 operating solar projects in 13 states from Arevon, adding nearly 200 MW of solar and 10 MWh of batteries.
• The deal lifts its commercial-scale solar and storage fleet to 1.7 GW across 33 states and Washington, D.C.
• Next in line are five community solar projects totaling 32 MW under development in Virginia.

Altus Power acquired 92 operating solar projects in 13 states from Arevon, adding nearly 200 MW of solar and 10 MWh of battery storage, the company said on Nov. 10. The purchase lifts its operating solar and storage portfolio to 1.7 GW across 33 states and Washington, D.C.

Neither side disclosed a price or a closing date. Altus financed the deal in part through an existing credit facility with Blackstone Credit & Insurance, it said in a statement. Marathon Capital, Arevon's exclusive financial adviser, described the assets as operating distributed solar projects. Arevon, which mostly builds large plants such as its Big Muddy project in Illinois, has not issued its own release.

The projects add density in New York, New Jersey, Massachusetts and California, which Altus said makes operations and maintenance across its fleet more efficient. Its fleet mixes ground-mounted, rooftop and carport commercial solar with batteries. Customers include businesses, municipalities, schools, universities and community solar subscribers.

The deal in numbers

• 92 projects in 13 states, with nearly 200 MW of solar and 10 MWh of battery storage.
• About 2.2 MW per project on average (list.solar calculation).
• About 12% of the 1.7-GW portfolio comes from the Arevon assets (list.solar calculation).
• More than 1.4 GW of solar in 30 states and D.C. was Altus's stated size in its July 2026 release.
• 4.2 MW of carport solar with a 15-MWh battery at New York's Croton-Harmon station was Altus's previous purchase from Arevon, in April.
• 869 MWdc of commercial and community solar was installed across the U.S. in Q2 2026, according to SEIA and Wood Mackenzie. The Arevon portfolio equals roughly 23% of that (list.solar calculation).
• More than 40,000 community solar subscribers are served by Altus.

Community solar growth has stalled. SEIA and Wood Mackenzie expect U.S. community solar installations to stay flat in 2026 at about 1.7 GWdc, as New York volumes fell 70% year over year in the first half.

"Scale changes the capital available to you and the terms on which you can access it," Chief Financial Officer Dustin Weber said in the statement.

The next additions are five community solar projects totaling 32 MW that Altus bought from New Leaf Energy in July. They are under development in Virginia and will run under Appalachian Power's shared solar program.