Altus Power, a top clean energy provider, recently closed a $118 million deal acquiring 84 MW of commercial-scale solar arrays from Vitol. The assets, spanning rooftops, grounds, and carports, bring thousands of new customers in the Northeast, strengthening Altus Power’s regional presence, particularly in New York, New Jersey, and Maine. This move enhances its capacity to cater to both corporate and Community Solar clients. The acquisition’s clean energy generation benefits nearly 2,000 Community Solar subscribers, serves 20 additional clients, and contributes to an annual carbon avoidance of over 69,000 metric tons, equivalent to removing 15,000 gas-powered vehicles from the road. Altus Power used cash reserves for the deal and plans to expand funding with Blackstone for long-term financing.
Altus Power expands solar assets in Northeast markets
Altus Power’s strategic move adds 84 megawatts of solar arrays, strengthening its presence in the Northeast and benefiting diverse clients, including schools and municipalities. (Image Credit: Altus Power).
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