Altus Power ($AMPS) to Acquire About 97 Megawatts of Solar Assets for $220 Million
September 27, 2022 – TheNewswire – Altus Power (AMPS) has signed definitive agreements to acquire a portfolio containing 97 megawatts of operating solar assets for approximately $220 million. The company says it will fund the acquisition through a combination of cash and assumed liabilities.
The newly acquired portfolio spans nine US states and contains a combination of commercial and industrial assets that include solar panels on rooftops, ground and carports that provide clean electricity under contracts existing long term to top quality customers.
The Stamford, Connecticut-based company says the new agreements will increase its portfolio of solar power and storage assets to approximately 466 MW in 22 states, while creating new customer relationships.
Gregg Felton, co-CEO of Altus Power, said, “We are excited to bring these new long-term customer relationships and operating assets to our portfolio of commercial and industrial solar and storage assets. We welcome the opportunity to serve customers in new markets, including Pennsylvania, Indiana, Arizona and Nevada, as well as expand our footprint in existing markets.
Altus Power creates, develops, owns and operates solar generation, energy storage and electric vehicle charging infrastructure located locally in 22 states, from Vermont to Minnesota to Hawaii.
Atlus Power shares trade on the NYSE under the symbol AMPS. For more information, visit www.greenstocknews.com
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