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Altus Power Acquires 234 MW Solar and Storage Portfolio in US from Greenbacker

Altus Power has expanded its US footprint with the acquisition of a 234 MW multi-state solar and storage portfolio comprising 100 sites across 18 States from Greenbacker, strengthening its scale in commercial and community solar with long-term, investment-grade offtake contracts.

December 23, 2025. By Mrinmoy Dey

Altus Power has announced the acquisition of a 234 MW portfolio of solar generation and storage assets from Greenbacker, comprising more than 100 sites across 18 states in the US.

The acquired portfolio features long-term contracts with a diverse mix of high-quality, investment-grade customers including a global e-commerce and logistics company, a regional university and major utilities, the company said in a statement.

Commenting on the development, Abhi Parmar, Chief Investment Officer, Altus Power, said, “This acquisition demonstrates Altus Power’s ability to transact at scale and deliver reliable, cost-effective power solutions nationwide. Our disciplined approach and deep operational expertise enable us to serve as a long-term steward for these assets, creating enduring value for our customers, investors, and all stakeholders involved.”

Dan Griffin, Co-Head, Investment and Structured Finance, Altus Power, added, “Executing a transaction of this scale and complexity in such an efficient and timely manner reflects the depth of expertise and commitment across our team. This portfolio meaningfully expands our platform and strengthens our presence in key markets, further demonstrating our ability to integrate and optimise diverse solar assets at scale.”

Dan de Boer, CEO of Greenbacker, remarked, “We’re proud of the portfolio we built and the role these projects play in expanding access to renewable energy. Partnering with Altus Power was a natural next step. Their scale, experience and commitment to long-term asset management and customer service align well with Greenbacker’s broader strategy to optimise our project fleet via selective sales of non-core assets, as we sharpen our focus on high-impact, larger-scale clean energy projects.”

With this acquisition, Altus Power now owns and operates more than 1.3 GW of commercial and community solar assets across 30 states and the District of Columbia, the company stated.

Tags:

Solar PV

Altus Power

Greenbacker

RE project acquisition

Solar project with battery storage

Altus Power RE portfolio

Abhi Parmar

Dan Griffin

Dan de Boer