Altus Power Acquires 84 MW Portfolio of Commercial-Scale Solar Arrays from Vitol

Stoel Rives congratulates client Altus Power on closing and signing on its acquisition from Vitol of a portfolio of approximately 84 MW of commercial-scale solar arrays, which will supply electricity to 2,000 community solar subscribers and serve 20 new municipal, education, and enterprise customers in the U.S. Northeast. The acquisition price was approximately $118 million.

Altus Power is a leading developer, owner, and operator of locally sited solar generation, energy storage, and charging infrastructure serving commercial, industrial, public sector, and community solar customers throughout the U.S. A pioneer of community solar, Altus Power currently serves more than 20,000 subscribers nationwide.

The Stoel Rives deal team that counseled Altus Power in the transaction was led by Bill Clydesdale and Brian Nese and included Patrick Abell, Thomas Braun, Benjamin Criswell, Melissa Foster, Bo Harvey, Kris Jensen, Blaine Mullican, Jeffrey Nielson, Kevin Pearson, and Michael Such.