Altus Power, a leading commercial-scale clean power company, has announced the acquisition of a 12 MW operating solar portfolio from Hecate Energy, strengthening its presence across Florida, Georgia, Maryland, and Rhode Island. The transaction expands Altus Power’s footprint in key Mid-Atlantic and Southeast markets, regions experiencing rising electricity demand driven by economic growth and electrification trends.
The acquired portfolio consists of fully operational solar assets and aligns with Altus Power’s strategy of scaling in markets with strong fundamentals, customer demand, and supportive policy environments.
Strategic Fit with Long-Term Growth Strategy
Commenting on the acquisition, Dan Griffin, Co-Head of Investment and Structured Finance at Altus Power, said, “This portfolio underscores the power of our differentiated platform–disciplined investment, efficient execution, and long-term customer partnerships. These projects enhance our existing asset base and expand our ability to deliver dependable, cost-effective power to customers across strategic markets with high demand.”
The projects serve a diverse mix of enterprise and utility offtakers, reinforcing Altus Power’s focus on providing affordable, incremental clean power to customers seeking long-term energy solutions.
Expanding a Nationwide Operating Platform
With this acquisition, Altus Power continues to build on its growing national portfolio. The company currently operates 1.3 GW of solar assets across more than 600 projects spanning 30 U.S. states and Washington, DC. The latest addition strengthens its operational scale while deepening regional market presence.
Altus Power’s expansion approach prioritizes operational assets that can deliver immediate value while supporting long-term infrastructure development.
Responding to Rising Clean Energy Demand
As demand for renewable energy accelerates across the United States, Altus Power is pursuing a disciplined growth strategy that balances near-term power delivery with long-term sustainability objectives. The company is focused on expanding its regional footprint in markets where customer needs and economic fundamentals align, ensuring reliable clean energy access today while building for future demand.
Ignite Renewable Capital LLC served as the exclusive sell-side advisor to Hecate Energy for the transaction.
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