Altus Power Reports 2023 Growth, Acquires 84MW Portfolio, and Raises $100 Million for Expansion Plans.

Altus Power, the largest player in commercial scale solar, has reported ongoing growth in 2023 financial results, with the company’s value increasing from US$1.4 billion to US$2 billion between 2022 and 2023. The acquisition of an 84MW portfolio from Vitol is seen as a key milestone in Altus Power’s growth, with an affiliate of Goldman Sachs Asset Management and CPPIB Credit Investments III raising US$100 million for further expansion plans. The company’s portfolio saw the greatest change in asset value between year-to-year, with its properties, plants, and equipment seeing the greatest increase in value. However, operating expenses for the fourth quarter of 2023 were an increase from the previous year, which was a significant increase.