AMPS News & Events

Altus Power announced the acquisition of a 47.8-megawatt ground-mounted solar portfolio from Tortoise Capital Advisors, comprised of 15 projects located across Kansas and New York. With this transaction, Altus Power's portfolio has increased to 26 states and its footprint in New York now exceeds 250 MW. The acquired projects serve a range of public sector clients including several regional universities, towns and municipalities.

Altus Power announced that, at a special meeting of the stockholders held earlier, Altus Power's stockholders voted to adopt the previously announced definitive agreement for Altus Power to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy, and to approve the transactions contemplated thereby. As previously announced, subject to the terms and conditions of the merger agreement, Altus Power stockholders will receive $5.00 in cash, without interest and minus any applicable withholding taxes, for each share of Altus Power Class A common stock owned immediately prior to the effective time of the merger, if completed. Completion of the transaction is expected to occur on April 16, subject to the satisfaction of customary closing conditions.

Altus Power announced the acquisition of ten development-stage community solar projects totaling 58.4 MW in Maryland from Prospect14, a distributed solar energy development firm. In conjunction with the acquisition, Altus Power and Prospect14 entered into a development services agreement in which Prospect14 will complete the development of the solar projects. Once operational, the projects will participate in the Maryland Community Solar program, providing the benefits of clean electric power to approximately 8,000 customers, including an allocation specifically for low-to-moderate income households.