Altus Power America Upsizes Capital by more than $200 million
Altus Power America Inc. has increased its investment capital by more than US$200 million with commitments from the Alternative Energy Investing group at Goldman Sachs, Global Atlantic Financial Group and FS Investments (which is sub-advised by GSO Capital Partners, Blackstone’s credit business).
In addition to investing in operational and construction-ready solar projects, Altus Power invests capital to develop projects in the form of early land option payments or feasibility studies with the aim of creating value for investors and clean energy savings for its clients.
Gregg Felton, Managing Partner, Altus Power, said:
“Altus Power continues to build its solar investing platform and is excited to be partnering with Goldman Sachs and Global Atlantic Financial Group alongside our initial institutional investor, GSO and FS Investments. This additional capital will support Altus’ significant project pipeline as we continue to invest in the rapidly expanding distributed generation commercial and industrial solar marketplace.”
J. Richard Blewitt, Managing Director, GSO Capital Partners, said:
“We believe Altus Power represents a terrific opportunity to participate in a rapidly growing sector with attractive investment characteristics. We are delighted to be partnering with this best-in-class investment team which has been able to produce compelling and differentiated risk-adjusted returns for its investors,”
Lars Norell, Co-founder and Managing Partner, added:
“Solar energy is a proven technology which is attracting substantial interest from customers as well as investors. Altus Power’s platform serves corporate and public energy consumers by building solar energy systems and delivering savings in a growing number of states. We are pleased to be partnering with such sophisticated and substantial investment partners who have the capacity to support Altus’ continued growth as we partner with solar developers in a transparent and predictable manner.”
