Altus Power has completed the acquisition of a 4-megawatt solar operating portfolio consisting of four single-axis tracker projects and one fixed-tilt project.
The projects are selling clean, renewable energy to Georgia Power. Solar projects generate approximately 6.5 million kilowatt-hours of electricity annually, enough energy to fuel 540 homes. The portfolio was acquired from Beltline Energy.
“This acquisition demonstrates Altus Power’s ability to structure a complex transaction to optimize Beltline’s objectives. The acquisition of the Beltline assets, together with the strategic acquisition of a significant number of C&I-scale operating solar assets over the past 18 months, solidifies Altus Power’s position as a competitive buyer of solar assets throughout the United States. In addition to the acquisition of operating projects, Altus Power continues to develop C&I-scale solar assets across the country.”Sean Rheuben, managing director of Altus Power.
“Altus Power was a great partner in this transaction and demonstrated a strong understanding of the complexities of renewable energy financing along with knowledge in solar operations. Beltline has developed multiple portfolios with numerous groups over the years, and Altus Power stands out in its expertise, along with its adherence to being a reasonable and reliable counterparty. Beltline continues as a leader in developing solar portfolios in the Southeast and we look forward to more transactions with Altus Power.”Stephen Elkind, managing partner of Beltline Energy.