Altus Power Acquires 2.5 MW Operating Solar Project in Vermont

Nov 16, 2020 | News

Altus Power America, Inc. (“Altus Power”) has completed the acquisition of a 2.5-megawatt operating solar project in Charlotte, Vermont. The acquired project generates approximately 3 million kilowatt hours of electricity annually.

This project sells energy to VEPP, Inc, a not-for-profit Vermont Corporation that administers two of Vermont’s Renewable Energy Programs under contract with the Vermont Public Utility Commission.

“We are pleased to add this operating asset to our growing national portfolio of distributed generation solar assets. Altus Power’s reputation for providing sellers with competitive prices and transaction certainty has significantly increased our transaction pipeline,” said Gregg Felton, Managing Partner of Altus Power.

Altus Power’s portfolio includes over 170 total solar assets, including four operating assets in Vermont.

“This transaction highlights Altus’ structuring flexibility; in particular, we were able to satisfy the seller’s preference to exit its equity position in a taxable C-Corporation. We always endeavor to be creative with regards to structure in an effort to be accommodating to our partners,” said Abhi Parmar, Director at Altus Power.

“Altus Power was a great partner in this transaction and proved to be not only highly competent but also both commercial and efficient in their approach,” said Denis Harvie, President of the selling entity.

About Altus Power                                                                                                                                                                                                                                                                                                                 

Altus Power is a market-leading solar power company based i Greenwich, Connecticut that provides clean electricity to commercial, industrial and municipal clients across the U.S. Since its founding in 2009, Altus has developed or acquired more than 170 distributed generation facilities totaling in excess of 200 megawatts from Vermont to Hawaii. Visit altuspower.com to learn more.

Contact Altus Power at 203.698.0090 to bizdev@altuspower.com

Latest news

Altus Power Completes Solar Array in Ewa, Hawaii

Altus Power America, Inc. (“Altus Power”) recently completed the construction of a 7.5 MW ground-mounted solar system in Ewa, Hawaii. Altus Power partnered with developer Environmental Chemical Corporation (“ECC”) and with EPC contractor, REC Solar Commercial...

read more

Altus Power Acquires Operating Solar Portfolio in Georgia

Altus Power America, Inc. ("Altus Power") has completed the acquisition of a 4-megawatt operating solar portfolio comprised of four single-axis tracker projects and seventeen fixed-tilt projects. The projects sell energy and renewable attributes to Georgia Power as...

read more

Altus Power Acquires 19 MW Operating Solar Portfolio

Altus Power America, Inc. (“Altus Power”) has completed the acquisition of a multistate operating portfolio of ground-mounted solar assets.  The 19 megawatt (MW) DC portfolio of solar energy systems sell clean, renewable energy to offtakers ranging from regional and...

read more