AMPS - Altus Power to buy operating solar assets in $220M deal

Altus Power ( NYSE: AMPS ) said Tuesday it agreed to acquire 97 MW of solar assets operating across nine states for ~$220M, funded by a combination of cash on hand and assumed liabilities.

Altus ( AMPS ) said the largest of the portfolios includes 88 MW of generating assets, while the acquisition of the remaining 9 MW recently closed and are currently operating as part of the company's portfolio.

The company said the commercial and industrial-scale assets include rooftop, ground and carport-mounted solar arrays and deliver clean electricity under long-term contracts to predominantly investment-grade customers.

Altus Power ( AMPS ) recently reported Q2 adjusted earnings of $0.16/share on revenues of $25M .

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