Altus Power, Inc. Secures Capital to Finance Additional 35 Megawatts of Operating Assets

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Jun 20, 2023

Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it has secured an incremental $47 million in capital from Blackstone. This incremental debt will provide long-term fixed rate financing for 35 megawatts of operating assets in Altus Power’s portfolio. The use of proceeds includes payoff of the $15.8 million outstanding under the Company’s construction facility with the remainder as net cash proceeds available to be reinvested in the Company’s business.