Altus to get 220MW of solar assets

• Handle True Green Capital for commercial-scale PV projects throughout the US

Solar designer Altus Power has gotten in a definitive agreement to obtain 220MW of newly established and in building and construction solar assets in the United States for about US$ 293m from funds handled by True Green Capital (TGC) Management.

The obtained portfolio will without delay add about 207MW of commercial-scale solar assets to Altus Power's operations, with the continuing to be 13MW in the lasts of building and construction and also expected to be finished in the coming months.

This portfolio offers extra scale in Altus Power's existing markets consisting of California, Colorado, Illinois, Massachusetts, New Jersey, and also New York and also gives entrance into 2 new markets of Delaware as well as South Carolina.

Altus Power anticipates to have, run as well as service these new assets and also new consumer connections over the lasting with the prospective to offer added electrification solutions, including battery storage space, as well as electric vehicle or fleet charging terminals.

Altus Power and TGC currently expect the deal will certainly shut throughout initial quarter of 2023 upon satisfaction of certain closing conditions.

The business intends to fund the purchase with its lasting financing center led by Blackstone Structured Finance as well as cash on hand.

Altus Power co-chief executive Gregg Felton claimed: "We are thrilled to welcome this new collection of consumers to the Altus Power brand, deepening our reach, specifically in New york city and California, where a majority of the assets in this portfolio were created and constructed by our partner, TGC.

" TGC has a lengthy history of efficiently investing in commercial-scale solar with underwriting requirements constant with our very own.

" Altus Power's staminas in asset on-boarding as well as lasting customer maintenance incorporated with our scalable financing design create a natural partnership."

Panos Ninios, handling partner and co-founder of TGC added: "Altus Power's capacity to execute with effectiveness and focus on building long-lasting partnerships has made them an exceptionally valuable partner in both of our transactions.

" They share our founding idea that commercial-scale distributed solar generation is one of the most attractive segment of our industry.

" Our cooperation has assisted in TGC's successful forays into new solar markets."