Altus Power Acquires Operating Solar Portfolio in Georgia

Oct 6, 2020 | News

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 part of Georgia Power’s Advanced Solar Initiative (“ASI”) program. The solar projects generate approximately 6.4 million kilowatt hours of electricity annually. The portfolio was acquired from Beltline Energy, LLC.

“This acquisition demonstrates Altus Power’s ability to structure a complex transaction to optimize Beltline’s objectives. The acquisition of the Beltline assets, together with the strategic acquisition of a significant number of C&I-scale operating solar assets over the past 18 months, solidifies Altus Power’s position as a competitive buyer of solar assets throughout the United States. In addition to the acquisition of operating projects, Altus Power continues to develop C&I-scale solar assets across the country,” said Sean Rheuben, Managing Director of Altus Power.

“Altus Power was a great partner in this transaction and demonstrated a strong understanding of the complexities of renewable energy financing along with knowledge in solar operations. Beltline has developed multiple portfolios with numerous groups over the years, and Altus Power stands out in its expertise, along with its adherence to being a reasonable and reliable counterparty. Beltline continues as a leader in developing solar portfolios in the Southeast and we look forward to more transactions with Altus Power,” said Stephen Elkind, Managing Partner of Beltline Energy.

About Altus Power

Altus Power is a market-leading solar power company based in 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 150 distributed generation solar facilities totaling in excess of 200 megawatts from Vermont to Hawaii. Visit altuspower.com to learn more.

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