Altus Power Acquires 8.5 MW Solar Array in New Jersey

Author

Slice of Energy Team
July 01, 2024

Key Highlights:

  • Altus Power acquires 8.5 MW solar array in New Jersey.

  • Project generates clean power sold to PJM and SRECs.

  • Increases New Jersey portfolio to 185.5 MW.

  • Expected to produce 8,776,000 kWh annually, avoiding over 6,100 metric tons of CO2.

  • Supports over 450 enterprises and 24,000 Community Solar customers nationwide.

Source (Business Wire)

Notable Quote:

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“New Jersey is a national leader in renewable energy and we’re pleased to expand our footprint in the Garden State. This acquisition includes 63 acres of land which enhances our flexibility to redevelop this site in the future and maximize long-term value.”

Gregg Felton, CEO at Altus Power

Our Take:

Altus Power's strategic acquisition of the 8.5 MW solar array in New Jersey exemplifies its commitment to expanding its renewable energy portfolio. This move not only underscores New Jersey's leading position in the renewable energy sector but also aligns with Altus Power's goal of providing clean energy solutions to a diverse customer base. The company's robust portfolio, spanning 25 states and servicing over 450 enterprises, highlights its pivotal role in the transition to a sustainable energy future. Furthermore, Altus Power's focus on Community Solar initiatives ensures that clean energy benefits are accessible to homeowners and renters across various income levels, reinforcing its leadership in promoting environmental stewardship and economic inclusivity.