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Altus Power Acquires 11mw New Jersey Solar Portfolio
Friday 09 November 2018

9 November 2018 - US-based clean energy investor and operator Altus Power America, Inc. has acquired a multisite New Jersey rooftop and carport solar portfolio, with an aggregate size of approximately 11 megawatts DC, the company said.

The solar energy systems sell clean, renewable energy to an array of offtakers, primarily consisting of local businesses and corporations across the state of New Jersey.

Altus acquired the solar portfolio from a private equity firm specializing in the environmental and emissions markets.

The solar projects generate approximately 13m kw hours of electricity annually, enough energy to power the equivalent of 1,000 homes. The solar projects also receive NJ SRECs, contributing to Governor Murphy's Executive Order 28 of achieving 100% clean energy in the state of New Jersey by 2050.

Altus Power America is a Greenwich, Conn. based company that invests in, owns and operates clean energy projects that provide renewable energy and solar savings to commercial and public sector clients. Altus is funded by Goldman Sachs, Global Atlantic Financial Group and FS Investments.
Date Published: 09/11/2018
Target: Multisite,  New Jersey rooftop and carport solar portfolio
Country: USA
Sector: Alternative Energy
Type: LBO
Status: Closed
Buyer: Altus Power America, Inc
Terms of the deal were not disclosed