Altus Power, a leading commercial-scale power company, 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.

Portfolio Milestone Following 92-Project Acquisition

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 to the company's fleet.

The announcement comes at a time when rising electricity demand and grid constraints are increasing the need for power generated closer to where it is used.

The company said the acquisition deepens its presence in established markets where it already operates, making the ongoing management of its growing fleet more efficient.

Executives Point to Growing Demand and Grid Constraints

"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 of 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."

As data centers and other large new loads increase electricity demand, businesses and households are facing growing pressure on energy costs, according to the company.

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.

Density in Key Northeast and California Markets

The projects acquired from Arevon build density in New York, New Jersey, Massachusetts, and California, where added density in these established markets makes operations and maintenance across the fleet more efficient, the company said.

Altus Power's broader 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. Marathon Capital served as the exclusive financial advisor to Arevon on the transaction.

"Scale changes the capital available to you and the terms on which you can access it," said Dustin Weber, Chief Financial Officer of Altus Power. "Our size and operating track record give 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."

Long-Term Ownership Approach

Abhi Parmar, Chief Investment Officer of Altus Power, emphasized that the company views value creation as a long-horizon exercise rather than a transactional one.

"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," Parmar said.

"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 Reaching 40,000-Plus Subscribers

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, according to the company.

Company Profile

Altus Power delivers reliable, cost-effective electricity across 33 states and the District of Columbia. With 1.7 GW of operating solar and battery storage, the company owns and operates a network serving Fortune 1000 companies, municipalities, schools, and households.

Altus Power 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, the company said. By producing electricity close to where it is needed, Altus Power aims to help lower energy costs, expand local power generation, and improve grid resilience.

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