Altus Power, Inc., A Market-Leading Clean Electrification Company, Acquires 9.9 MW Of Operating Solar Power Generation Assets

Altus Power, Inc. announced that it has acquired a 9.9 megawatt (MW) operating solar generation project in Sussex County, New Jersey.

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Altus Power previously announced an agreement for a business combination with CBRE Acquisition Holdings, Inc.which is expected to result in Altus Power becoming a public company listed on the New York Stock Exchange. CBAH is a special-purpose acquisition company sponsored by CBRE Group, Inc (“CBRE”). The transaction is expected to close in Q4 2021.

The acquired solar project, located in Lafayette Township, New Jersey, has been operational since 2015. The commercial and industrial project delivers power to local utilities and receives New Jersey solar renewable energy credits (SRECs). The acquisition is part of Altus Power’s strategic approach to growth, which includes both greenfield project development and acquisition of operating assets. The acquisition adds to the Company’s expanding portfolio of operating projects across New Jersey and the United States.

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“This ground-mount project is a great addition to Altus Power’s growing footprint in New Jersey. We are pleased to provide attractively priced clean energy in support of the state’s renewable power goals,” said Gregg Felton, Co-CEO of Altus Power.

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