Altus Power Inc. has closed on the acquisition of roughly 88 MW of working solar property bought from D. E. Shaw Renewable Investments (DESRI) below definitive agreements that had been beforehand introduced in September.
“We were pleased to be able to partner with DESRI’s talented team to execute this transaction,” says Gregg Felton, Co-CEO of Altus Power. “With closing now complete, we’re excited to incorporate these new long-term assets and customer relationships into our portfolio.”
“We were impressed by the Altus Power team’s ability to transact with efficiency, notwithstanding the complexity of a portfolio spanning several states with multiple stakeholders,” feedback Bryan Martin, government chairman of DESRI. “We expect that Altus Power will continue to operate these projects with the same thought and care that DESRI has.”
These commercial- and industrial-scale property embrace rooftop, floor and carport-mounted solar arrays which ship clear electrical energy below long-term contracts to predominantly investment-grade prospects.