Altus Power America Upsizes Capital by more than $200 million with Commitments from Goldman Sachs, Global Atlantic Financial Group and GSO Capital Partners (Blackstone’s credit business)
Altus Power America Inc., a market leader in solar power project investing, has increased its investment capital by more than $200 million with commitments from the Alternative Energy Investing group at Goldman Sachs, Global Atlantic Financial Group and FS Investments (which is sub-advised by GSO Capital Partners, Blackstone’s credit business). “Altus Power continues to build its solar investing platform and is excited to be partnering with Goldman Sachs and Global Atlantic Financial Group alongside our initial institutional investor, GSO and FS Investments. This additional capital will support Altus’ significant project pipeline as we continue to invest in the rapidly expanding distributed generation commercial and industrial solar marketplace,” said Gregg Felton, Managing Partner, Altus Power.
Altus Power offers solar developers and construction companies the full suite of financial services and is viewed in the market as a flexible partner in developing solar assets. In addition to investing in operational and construction-ready solar projects, Altus Power invests capital to develop projects in the form of early land option payments or feasibility studies with the aim of creating value for investors and clean energy savings for its clients. Lars Norell, Co-founder and Managing Partner, added, “Solar energy is a proven technology which is attracting substantial interest from customers as well as investors. Altus Power’s platform serves corporate and public energy consumers by building solar energy systems and delivering savings in a growing number of states. We are pleased to be partnering with such sophisticated and substantial investment partners who have the capacity to support Altus’ continued growth as we partner with solar developers in a transparent and predictable manner.”
Altus Power’s leadership has extensive experience in the finance and renewable energy development sectors and the Altus Power team has broad-based experience in operations, construction management, sales, marketing and administration. “We believe Altus Power represents a terrific opportunity to participate in a rapidly growing sector with attractive investment characteristics. We are delighted to be partnering with this best-in-class investment team which has been able to produce compelling and differentiated risk-adjusted returns for its investors,” said J. Richard Blewitt, Managing Director, GSO Capital Partners.