Altus Power, a major provider of clean electric power at the commercial scale, has announced the acquisition of a 47.8-megawatt ground-mounted solar portfolio from Tortoise Capital Advisors. The portfolio includes 15 solar projects located across Kansas and New York. With this acquisition, Altus Power has expanded its operations to 26 states, and its total capacity in New York has now surpassed 250 megawatts, making the state its largest market. The newly acquired projects serve a variety of public sector clients, including regional universities, towns, and local government bodies. These systems will help deliver clean, locally generated power directly to the communities they serve, reducing dependence on long-distance energy transmission and supporting regional infrastructure.
Dan Griffin, Co-Head, Investment and Structured Finance, Altus Power, said in a statement, “Our team’s ability to seamlessly acquire portfolios of operational assets continues to set us apart. This acquisition adds to our expanding portfolio serving public sector clients and reinforces our strategy to build density in key markets.”
Tom Florence, CEO, Tortoise Capital, stated, “Altus Power shares our focus on the customer and has proven to be a trusted partner with a track record of operational excellence. Their ability to integrate and scale these types of projects makes them an ideal acquirer.”
The transaction was facilitated by Marathon Capital, which acted as the exclusive financial advisor. Altus Power’s growing portfolio across 26 states allows it to supply dependable solar energy to organizations aiming to control energy costs and meet increasing electricity needs. As a fully integrated commercial-scale solar provider, the company focuses on long-term ownership and generates power close to where it is consumed, helping to reduce the burden on national transmission systems and advance the transition to clean energy.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
