Altus Power teams up with Blackstone to raise $850M for solar development and investment

Altus Power teams up with Blackstone to raise $850M for solar development and investment

Altus Power America, Inc. reports that Blackstone, through its GSO Capital Partners LP (“GSO”) and Blackstone Insurance Solutions (“BIS”) groups, has led a recapitalization with $850 million of funded and committed capital to refinance the existing capital structure and fund future development.

The recapitalization consists of preferred and minority equity and investment grade-rated debt financing provided by GSO and a BIS-led consortium, respectively, and a construction-to-term loan facility from a syndicate of commercial banks, providing Altus Power with sufficient capital to grow its portfolio to over $1 billion of commercial and industrial solar assets.

Altus Power is experiencing significant growth in demand from its private and public clients for locally sited solar arrays – in many instances in combination with battery storage – that are capable of producing energy savings for off-takers, creating rent payments for real estate owners, and helping its clients meet corporate sustainability goals.

To meet this demand, Altus Power and Blackstone have created a partnership that solidifies Altus Power’s position as one of the most competitive solar power companies in the industry. The recapitalization includes one of the first ever privately rated investment-grade financings comprised solely of commercial and industrial distributed solar assets.

“We’re incredibly enthusiastic to be partnering with Blackstone as we position our business for accelerating growth. By providing Altus with a full capital structure solution, including investment-grade rated permanent senior financing, Blackstone is empowering Altus to be one of the most competitive capital partners in distributed generation solar,” said Gregg Felton, Managing Partner of Altus Power.

“We are excited to partner with Altus, a leading developer and operator of solar assets with a best in class management team. Our investment will enable Altus to meet growing demand for low cost, renewable energy in North America and we believe represents an attractive opportunity for our investors,” said Robert Horn, Senior Managing Director of Blackstone and Co-Head of GSO’s Energy Group.

Related Links
Altus Power
All About Solar Energy at

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook – our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don’t have a paywall – with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once
credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly
paypal only

Reversing electrons’ course through nature’s solar cells
St. Louis MO (SPX) Jan 10, 2020
Think of a train coming down the tracks to a switch point where it could go either to the right or the left – and it always goes to the right. Photosynthetic organisms have a similar switch point. After sunlight is absorbed, energy transfers rapidly to a protein called the reaction center. From this point, the electrons could move either to an A-branch (or “right-track”) set of molecules, or to a B-branch (“left-track”) set of identical molecules. New research from Washington University in S … read more

Leave a Reply