Altus Power snaps up 19 MW of solar in 3 US states

Solar panels in Massachusetts, USA. Author: liz west. License: Creative Commons.

April 18 (Renewables Now) - Altus Power America Inc has closed the acquisition of a 19-MW portfolio of operational solar parks in the states of Massachusetts, North Carolina and New Mexico.

Connecticut-based Altus Power, which is funded by Goldman Sachs, Global Atlantic Financial Group and FS Investments, said on Wednesday it has purchased the assets from an unnamed lender through a private foreclosure sale. Financial details on the deal were not provided.

The specific portfolio includes 10 plants with a given Direct Current (DC) capacity and a combined output of around 27 million kWh per year. The generated electricity will be enough to meet the demand of around 3,300 households per year, Altus Power estimates.

The renewables company currently owns and manages 165 MW of solar assets across 14 states. "Over the past several years, Altus Power has acquired 54 discrete projects in nine separate transactions," said managing partner Gregg Felton.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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