Altus Power America and Rhode Island Turnpike & Bridge Authority Sign Solar Power Purchase Agreement

Oct 2, 2015 | News

(Greenwich, CT) – Altus Power America, Inc. is pleased to announce the signing of a power purchase agreement with Rhode Island Turnpike and Bridge Authority (“RITBA’’). The 25-year contract will help the RITBA save on a large portion of its electricity usage and reduce its carbon footprint. This solar system will be located next to the Newport Bridge in Jamestown, Rhode Island. The ground-mounted system is expected to produce 642,560 kWh per year, offsetting the equivalent of about 40 average homes’ energy use annually.

Altus currently owns and operates five solar projects under the National Grid Rhode Island Feed-in-Tariff program. The RITBA project will be Altus’s first virtually net-metered project in Rhode Island. The solar system will be constructed by Park Avenue Solar Solutions, LLC, and is expected to achieve final completion during second quarter of 2016. “Altus looks forward to completion of this project and to helping RITBA achieve their long-term sustainability goals” said Tom Athan, Managing Partner at Altus Power.

About Altus Power America, Inc.
Altus Power America, Inc. is a Greenwich, CT-based company funded in part by GSO/Blackstone that invests in, owns and manages clean energy projects. Its principals draw on their deep expertise in finance, construction, engineering and design to provide renewable energy savings and solar solutions to commercial and public sector clients. Visit www.altuspower.com for more information.

Latest news

Altus Power, Inc., a Market-Leading Clean Electrification Company, Announces Business Combination with CBRE Acquisition Holdings, Inc.; Combined Company Expected to Be Listed on New York Stock Exchange

Transaction to generate gross proceeds of approximately $678 million to the company, including a $275 million fully-committed common stock PIPE, anchored by CBRE Group, Inc. and existing investors, Altus Power management and Blackstone Credit, as well as new...

read more