Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it has closed on the acquisition of approximately 88 megawatts (MW) of operating solar assets. These assets were purchased from D. E. Shaw Renewable Investments (DESRI), under definitive agreements that were previously announced on September 27, 2022Gregg Felton, Co-CEO of Altus Power, said “We were pleased to be able to partner with DESRI’s talented team to execute this transaction. With closing now complete, we’re excited to incorporate these new long-term assets and customer relationships into our portfolio.
“We were impressed by the Altus Power team’s ability to transact with efficiency, notwithstanding the complexity of a portfolio spanning several states with multiple stakeholders,We expect that Altus Power will continue to operate these projects with the same thought and care that DESRI has.”
-Bryan Martin, Executive Chairman of DESRI
These commercial and industrial scale assets include rooftop, ground and carport-mounted solar arrays which deliver clean electricity under long-term contracts to predominantly investment-grade customers. Altus Power owns, operates and services customers across its portfolio of 469 MW of long-term contracted solar assets with the potential to offer additional electrification solutions, including battery storage, as well as electric vehicle or fleet charging stations.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier commercial-scale clean electrification company serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.
About D.E. Shaw Renewable Investments
D. E. Shaw Renewable Investments (DESRI) and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the U.S. DESRI's portfolio of contracted, operating, and in-construction renewable energy projects currently includes more than 65 solar and wind projects representing more than 6 gigawatts of aggregate capacity. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than $60 billion in investment and committed capital as of September 1, 2022, and offices in North America, Europe, and Asia. For more information, visit www.desri.com.