Altus Power Acquires 12 MW of Commercial-Scale Solar Assets Across Four States

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, a leading commercial-scale power company, today announced the acquisition of a 12 MW solar operating portfolio from Hecate Energy across Florida, Georgia, Maryland and Rhode Island. The transaction expands the company’s footprint in key Mid-Atlantic and Southeast markets that have seen a surge in power demand.

“This portfolio underscores the power of our differentiated platform--disciplined investment, efficient execution, and long-term customer partnerships,” said Dan Griffin, Co-Head of Investment and Structured Finance, Altus Power. “These projects enhance our existing asset base and expand our ability to deliver dependable, cost-effective power to customers across strategic markets with high demand.”

The projects serve a diverse mix of enterprise and utility offtakers, reinforcing Altus Power’s strategy of delivering affordable, incremental power in markets with strong demand and supportive policy frameworks. With 1.3 GW of operating solar assets across more than 600 projects in 30 states and Washington, DC, Altus Power continues to scale where customer needs and long-term fundamentals align.

As demand for clean energy accelerates nationwide, Altus Power is executing a disciplined growth strategy that expands its regional footprints while delivering reliable renewable power today and building the infrastructure needed for a more sustainable energy future.

Ignite Renewable Capital LLC served as the exclusive sell-side advisor to Hecate Energy.

About Altus Power

Altus Power is a leading commercial-scale power company, delivering reliable, cost-effective solar electricity across 30 states and the District of Columbia. With more than 1.3 GW of solar generation assets, Altus Power owns and operates a robust network that serves Fortune 1000 companies, municipalities, schools and households. As a portfolio company of TPG Rise Climate Transition Infrastructure, Altus Power leverages this strategic partnership to scale operations and expand access to affordable, locally-sourced renewable power nationwide. By combining deep market expertise with innovative financing, Altus Power sets the standard for commercial-scale power generation while stabilizing electricity costs and driving the transition to a cleaner, brighter future.

About Hecate Energy

Headquartered in Chicago, Illinois, Hecate Energy is a leading developer of utility scale renewable projects. Founded in 2012 by a team of industry veterans, the company has developed and built more than 4.7 GW of renewable generation assets that provide green power to utilities, cities, universities, and major corporations.