Altus Power Grows Operating Solar and Battery Storage Portfolio to 1.7 GW Across 33 States

Acquisition of portfolio adds nearly 200 MW of solar and 10 MWh of battery storage, expanding the company's ability to deliver affordable, reliable local power amid rising electricity demand

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, a leading commercial-scale power company, today announced that its operating portfolio of solar generation and battery energy storage has grown to 1.7 gigawatts (GW) across 33 states and Washington, D.C. The expansion follows the acquisition of 92 projects in 13 states from Arevon, adding nearly 200 MW of solar and 10 MWh of battery storage, at a time when rising electricity demand and grid constraints increase the need for power generated closer to where it is used.

“Electricity demand is growing rapidly, while the grid infrastructure needed to deliver new power can take years to build,” said Gregg Felton, Chief Executive Officer, Altus Power. “Distributed generation can help close that gap by bringing new supply directly to the businesses and communities that need it. Reaching 1.7 gigawatts is a milestone for us, but the more important point is that local power is becoming a bigger part of how the country meets its energy needs.”

Portfolio builds density in key markets

Altus Power's portfolio of 1.7 GW spans 33 states and Washington, D.C. The projects acquired from Arevon deepen the company’s presence in New York, New Jersey, Massachusetts and California, where added density in these established markets makes operations and maintenance across its fleet more efficient. Altus Power’s portfolio includes ground-mounted, rooftop and carport solar projects, as well as battery storage, serving commercial and industrial businesses, municipalities, schools, universities and community solar subscribers.

The acquisition was financed in part through an existing credit facility with Blackstone Credit & Insurance.

“Scale changes the capital available to you and the terms on which you can access it,” said Dustin Weber, Chief Financial Officer, Altus Power. “Our size and operating track record gives us access to a deep pool of institutional capital that is typically out of reach for smaller platforms, allowing us to efficiently close acquisitions of operating portfolios like Arevon’s.”

Marathon Capital served as the exclusive financial advisor to Arevon on the transaction.

Rising demand increases the value of affordable power

As data centers and other large new loads increase electricity demand, businesses and households are facing growing pressure on energy costs. Power generated closer to where it is used, particularly when paired with battery storage, can add supply in constrained areas, support more affordable and reliable electricity, and reduce pressure on congested transmission and distribution networks.

Long term value through ownership and operation

"Value in distributed generation isn’t created at the point of investment. It's created over 20-plus years of operating, maintaining and serving customers across a large portfolio," said Abhi Parmar, Chief Investment Officer, Altus Power. "Our growth reflects a deliberate approach to assembling a diversified portfolio of operating assets in markets where local power delivers meaningful value, and we remain focused on disciplined investment and long-term ownership."

Community solar delivers savings to more households and businesses

Community solar is a growing part of Altus Power's portfolio. The company serves more than 40,000 community solar subscribers, helping households and businesses save on their electricity bills without installing solar panels or making an upfront investment. By delivering the benefits of solar power, community solar broadens access to energy savings, including renters and others who are not eligible for rooftop solar.

About Altus Power

Altus Power is a leading commercial-scale power company, delivering reliable, cost-effective electricity across 33 states and the District of Columbia. With 1.7 GW of operating solar and battery storage, Altus Power owns and operates a network serving Fortune 1000 companies, municipalities, schools and households. The company builds generation close to 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.