Altus Power, Inc.: M&A transaction — Altus Power acquires 84 MW solar portfolio from Vitol for $118M

Altus Power, Inc.

Purchase price ~$118M funded by cash on hand; customary working capital adjustments.
Adds thousands of Community Solar subscribers, school districts, and enterprises in NY, NJ, and ME.
Expects to expand funding facility with Blackstone in near term to secure long-term financing.
Acquired assets span rooftop, ground, and carport arrays; total portfolio across 25 states.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Altus Power, Inc. completed an acquisition involving Vitol Solar I LLC for approximately $118 million (closed 2024-01-31).

Action: acquisition
Counterparty: Vitol Solar I LLC
Consideration: approximately $118 million
Closing: 2024-01-31

Exact text from the filing

Power, LLC, a Delaware limited liability company (“Buyer”), dated as of January 31, 2024 (the “Acquisition Agreement”). The base purchase price for these assets is approximately $118 million. The base purchase price and associated costs and expenses was funded by cash on hand. The purchase price is also subject to customary adjustments for working capital and other

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Source: SEC EDGAR

accession 0001828723-24-000010

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