M&A Deal Summary

Altus Power Acquires Construction Solar Assets - 220 Megawatts

On December 27, 2022, Altus Power acquired renewable energy company Construction Solar Assets - 220 Megawatts from True Green Capital Management for 293M USD

Acquisition Highlights
  • This is Altus Power’s 1st transaction in the Renewable Energy sector.
  • This is Altus Power’s largest (disclosed) transaction.
  • This is Altus Power’s 1st transaction in the United States.
  • This is Altus Power’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2022-12-27
Target Construction Solar Assets - 220 Megawatts
Sector Renewable Energy
Buyer(s) Altus Power
Sellers(s) True Green Capital Management
Deal Type Divestiture
Deal Value 293M USD

Target

Construction Solar Assets - 220 Megawatts

Westport, Connecticut, United States
Construction Solar Assets - 220 Megawatts add approximately 207 MW of commercial-scale solar assets to Altus Power’s operations, with the remaining 13 MW in the final stages of construction and expected to be completed in the coming months. This portfolio offers additional scale in Altus Power’s existing markets including California, Colorado, Illinois, Massachusetts, New Jersey, and New York and provides entry into two new markets of Delaware and South Carolina. 220 Megawatts - Construction Solar Assets.

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Buyer(S) 1

Buyer

Altus Power

Stamford, Connecticut, United States

website

Category Company
Founded 2009
Sector Renewable Energy
DESCRIPTION

Altus Power is an independent developer, owner and operator of commercial-scale solar facilities. Altus Power was founded in 2009 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

True Green Capital Management

website

Category Infrastructure
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-28 CleanChoice

Washington, District of Columbia, United States

CleanChoice is a direct-to-consumer clean energy provider, that makes it easy for consumers and businesses to purchase clean energy from renewable sources. Available nationwide, the company helps Americans support renewable energy, reduce pollution and live cleaner and healthier lives. CleanChoice was formed in 2012 and is based in Washington DC.

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