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Altus secures $850M for recapitalization

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Altus secures $850M for recapitalization

Altus Power America Inc., a developer of small-scale solar facilities across the U.S., secured $850 million of funded and committed capital as part of a recapitalization package to refinance its existing capital structure and fund future development.

The recapitalization includes preferred and minority equity as well as debt financing provided by The Blackstone Group Inc. through its GSO Capital Partners LP and Blackstone Insurance Solutions group.

It also includes a construction-to-term loan facility from a syndicate of commercial banks that will allow Altus to expand its portfolio to more than $1 billion of solar assets.