Altus Power Acquires 6 MW California Solar Project
Written By: Stratton Report
June 19, 2017
On June 19, 2017, Altus Power America, Inc. announced the acquisition of a solar installation in Rancho Cordova, California.
Per the company, the solar project, which receives a Power-Based Incentive from Sacramento Municipal Utility District, generates approximately 11 million kilowatt hours (kWh) of electricity annually which is enough energy to power the equivalent of 800 homes.
Abhi Parmar, Vice President of Altus Power commented:
”Altus Power is delighted to have consummated this acquisition and enjoyed working with stakeholders. Altus’ structuring flexibility allows us to invest capital to reinvigorate a seasoned project and optimize production for many years to come.”
Managing Partner of Altus, Gregg Felton added, “While Altus Power has historically focused on building new projects across the U.S., we are increasingly enthusiastic about acquiring existing operational solar assets which often involve a degree of technical or structural complexity”