Altus Power Announces Acquisition of 4.4 MW Portfolio in Southern California

HP Inc. and Keysight Technologies join Altus Power’s roster of corporate customers

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power (NYSE: AMPS), a leading independent developer, owner and operator of commercial-scale solar facilities, today announced that it has acquired approximately 4.4 megawatts (MW) of operating solar assets in Southern California from funds managed by affiliates of Apollo (NYSE: APO).

The portfolio includes rooftop, carport and ground-mounted solar arrays which will deliver power under long-term contracts to HP Inc., Keysight Technologies and a local municipality. These assets add to the approximately 112 MW Altus Power currently owns and operates in California.

“We’re proud to provide the benefits of clean, electric power to HP and Keysight Technologies and look forward to expanding our relationship with these industry leaders to support their long-term sustainability goals,” said Gregg Felton, co-CEO and co-founder, Altus Power. “In addition, Altus Power continues to look for opportunities to add new customers in California and we appreciate the support of the Apollo team in the acquisition of these projects.”

Altus Power’s portfolio across 25 states serves corporations committed to achieving carbon reduction goals, starting with on-site generated solar electric power. As a full service, end-to-end commercial solar provider, Altus Power enables corporations to access clean electric power while delivering comprehensive power usage insights. Altus Power’s AI-powered dashboard helps businesses striving to achieve decarbonization commitments make informed decisions in order to reduce carbon emissions and satisfy reporting requirements.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is the largest independent commercial-scale provider of clean electric power serving commercial, industrial, public sector and community solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.