Altus Power Partners with New Leaf Energy on Development of Five Community Solar Projects in Virginia

32 MW Portfolio to deliver affordable, clean power under APCo Shared Solar Program

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, a leading commercial-scale power company, today announced the acquisition of five community solar projects from New Leaf Energy, currently under development in Virginia. The 32 MW portfolio will participate in Appalachian Power Company’s (APCo) shared solar program and is expected to deliver the benefits of clean power to approximately 5,000 homes.

The ground-mounted projects expand Altus Power’s community solar footprint into Virginia and will deliver direct savings to eligible households and enterprises through solar bill credits, at a time when power prices continue to rise.

"Virginia has made a clear commitment to protecting ratepayers from rising electricity costs through the expansion of clean, incremental power and this program is a key part of that vision,” said Abhi Parmar, Chief Investment Officer, Altus Power. “We're excited to be partnering with New Leaf Energy to help bring it to life, combining our strengths to successfully navigate a new market and deliver real savings to households and businesses across the state."

This transaction marked the first collaboration between Altus Power and New Leaf Energy, reflecting a shared commitment to expanding access to community solar in emerging markets and delivering projects that benefit both local communities and the broader clean energy transition.

“This partnership demonstrates how quickly community solar can scale when strong development and execution come together,” said Kate Vann, Senior Director and Head of Mergers & Acquisitions, New Leaf Energy. “Our team is proud to have partnered with Altus Power on the development of these projects and expand clean, affordable energy for communities across the Commonwealth.”

These projects will operate under APCo’s shared solar program, underscoring Altus Power’s ability to navigate new regulatory frameworks and deliver results in evolving markets.

“We’re proud to help establish and shape a new shared solar program that puts affordability front and center for customers,” said Skylar Werde, Head of Community Solar, Altus Power. “This is about unlocking new pathways: working alongside partners to open new markets, expand access to community solar and ensure more households and businesses can benefit from locally generated, lower cost clean energy. It’s a clear reflection of our commitment to scaling this model nationwide.”

As one of the pioneers of Community Solar, Altus Power currently serves more than 40,000 subscribers nationwide. Community Solar provides homeowners and renters of all income brackets with the benefits of clean energy savings in the form of discounts on their utility bills without requiring customers to install or maintain their own solar panels. To learn more, visit https://www.altuspower.com/community-solar.

About Altus Power

Altus Power is a leading commercial-scale power company, delivering reliable, cost-effective electricity across 30 states and the District of Columbia. With more than 1.4 GW of solar generation assets, Altus Power owns and operates a network serving Fortune 1000 companies, municipalities, schools and households. The company builds generation precisely where demand is highest, turning underutilized sites into clean power assets that support reliability in capacity-constrained regions across the country. By producing electricity close to where it is needed, Altus Power helps lower energy costs, expand local power generation and improve grid resilience. Through deep market expertise and innovative financing, Altus Power is advancing a more affordable, reliable and locally powered energy future.