Altus Power Expands NJ Solar Portfolio with 8.5-MW Acquisition
- Altus Power Inc. shines brighter in New Jersey with a new 8.5-MW solar park acquisition, boosting green energy production and reducing CO2 emissions.
Altus Power Inc, a US solar developer, has expanded its New Jersey portfolio to 185.5 MW with the acquisition of an 8.5-MW solar park. The ground-mounted PV farm will supply green electricity to the PJM market under a contract with local independent system operator PJM, generating approximately 8.78 million kWh in the next 12 months and offsetting over 6,100 tonnes of CO2 emissions. The financial details of the transaction and the name of the vendor were not disclosed.
Altus Power CEO Gregg Felton stated that the acquisition includes 63 acres of land, providing flexibility for future redevelopment and maximizing long-term value. This expansion comes after Altus acquired 84 MW of solar parks in the US Northeast in February, further solidifying its presence in the region and expanding its commercial-scale solar portfolio.
What is the latest addition to Altus Power's New Jersey solar portfolio?
- The latest addition to Altus Power's New Jersey solar portfolio is an 8.5-MW solar park
- The ground-mounted PV farm will supply green electricity to the PJM market under a contract with local independent system operator PJM
- The solar park is expected to generate approximately 8.78 million kWh in the next 12 months and offset over 6,100 tonnes of CO2 emissions
- The financial details of the transaction and the name of the vendor were not disclosed
- Altus Power CEO Gregg Felton mentioned that the acquisition includes 63 acres of land, providing flexibility for future redevelopment and maximizing long-term value
- This expansion follows Altus Power's acquisition of 84 MW of solar parks in the US Northeast in February, further solidifying its presence in the region and expanding its commercial-scale solar portfolio.
