Altus Power Acquires Project Hyperion, LLC, Comprising 121 MW in Solar Assets, from Basalt and Soltage

Stoel Rives is pleased to have represented Altus Power in its acquisition of Project Hyperion, LLC, comprising 121 megawatts in solar assets, primarily located in North and South Carolina. The transaction expands Altus’ presence in the Southeast and introduces new government and municipal entities into the Altus portfolio.

Altus Power is a leading commercial-scale provider of clean electric power, continuing to drive plans to grow its portfolio of commercial scale solar assets to almost 900 MWs. Altus Power currently owns and operates distributed solar arrays across 25 states, delivering clean, electric power at a discount to enterprises and households. Altus Power additionally announced plans for an incremental draw of $163 million from its Blackstone long-term funding facility at a fixed interest rate of 6.70%. This amount includes $89 million to finance Hyperion with the remaining proceeds to provide long-term funding for other asset additions.

The Stoel Rives deal team included Bill Clydesdale, Erica Valli, and Brian Nese, among others.