Altus Power, Inc. Secures Capital to Finance Additional 35 Megawatts of Operating Assets
20 Junho 2023 - 8:00AM
Business Wire
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.
This incremental financing is an expansion of the $204 million
facility initiated in February 2023. The additional $47 million
will carry the same interest rate and terms as the initial
borrowings, a fixed interest rate of 5.62% for the tenor of the
facility and the option to refinance the debt without penalty after
3 years.
“Blackstone continues to be a lender-of-choice for our
commercial-scale solar assets driven by their extensive experience
underwriting long-term contracted assets across a diversity of
industries,” commented Dustin Weber, CFO of Altus Power. “Altus
Power is fortunate to be positioned with access to capital that
enables our Company to invest in and own our assets for the
long-term.”
“These long-term contracted assets meet the needs of our clients
seeking high quality, long-duration investments,” added Robert
Camacho, Co-Head of Asset Based Finance within Blackstone’s
Structured Finance Group. “Blackstone Structured Finance has
significant capacity to invest and is focused on finding additional
opportunities like those that Altus Power continues to
originate.”
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier
commercial-scale clean energy company serving commercial,
industrial, public sector and community solar customers with an
end-to-end solution. Altus Power originates, develops, owns and
operates a network of locally sited solar generation, energy
storage and charging infrastructure across the nation. Visit
www.altuspower.com to learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20230620704352/en/
Altus Power Contacts:
Chris Shelton Head of IR InvestorRelations@altuspower.com
Altus Power (NYSE:AMPS)
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