Altus Power Acquires Ten Maryland Community Solar Projects, Totaling 58.4 MW, from Prospect14
Altus Power (NYSE: AMPS) has acquired ten development-stage community solar projects in Maryland from Prospect14, totaling 58.4 MW capacity. The projects, once operational, will serve approximately 8,000 customers through the Maryland Community Solar program, including dedicated allocation for low-to-moderate income households.
Under a development services agreement, Prospect14 will complete the projects' development. The initiative addresses Maryland's growing energy demands driven by data centers and electric vehicles, providing clean power generation where needed. This acquisition expands Altus Power's community solar presence, which currently serves over 35,000 subscribers nationwide.
The program enables renters, multifamily residents, homeowners, and small businesses to benefit from clean energy savings through utility bill discounts without requiring personal solar panel installation.
Altus Power (NYSE: AMPS) ha acquisito dieci progetti solari comunitari in fase di sviluppo nel Maryland da Prospect14, per un totale di 58,4 MW di capacità. Una volta operativi, i progetti serviranno circa 8.000 clienti attraverso il programma Maryland Community Solar, con una quota dedicata per le famiglie a basso e medio reddito.
In base a un accordo di servizi di sviluppo, Prospect14 completerà lo sviluppo dei progetti. L'iniziativa risponde alla crescente domanda energetica del Maryland, alimentata da centri dati e veicoli elettrici, fornendo generazione di energia pulita dove è necessaria. Questa acquisizione espande la presenza di Altus Power nel settore solare comunitario, che attualmente serve oltre 35.000 abbonati a livello nazionale.
Il programma consente a inquilini, residenti di edifici multifamiliari, proprietari di case e piccole imprese di beneficiare di risparmi energetici attraverso sconti sulle bollette senza la necessità di installare pannelli solari personali.
Altus Power (NYSE: AMPS) ha adquirido diez proyectos solares comunitarios en fase de desarrollo en Maryland de Prospect14, con una capacidad total de 58,4 MW. Una vez operativos, los proyectos atenderán aproximadamente a 8.000 clientes a través del programa Maryland Community Solar, incluyendo una asignación dedicada para hogares de bajos y medianos ingresos.
Bajo un acuerdo de servicios de desarrollo, Prospect14 completará el desarrollo de los proyectos. La iniciativa aborda las crecientes demandas energéticas de Maryland impulsadas por centros de datos y vehículos eléctricos, proporcionando generación de energía limpia donde se necesita. Esta adquisición expande la presencia de Altus Power en la energía solar comunitaria, que actualmente sirve a más de 35.000 suscriptores en todo el país.
El programa permite a inquilinos, residentes de multifamiliares, propietarios de viviendas y pequeñas empresas beneficiarse de ahorros en energía a través de descuentos en las facturas de servicios públicos sin necesidad de instalación de paneles solares personales.
Altus Power (NYSE: AMPS)는 Prospect14로부터 메릴랜드에서 개발 단계에 있는 10개의 커뮤니티 태양광 프로젝트를 인수하여 총 58.4 MW의 용량을 확보했습니다. 프로젝트가 운영되면, 메릴랜드 커뮤니티 태양광 프로그램을 통해 약 8,000명의 고객에게 서비스를 제공할 예정이며, 저소득 및 중간 소득 가구를 위한 전용 할당이 포함됩니다.
개발 서비스 계약에 따라 Prospect14는 프로젝트 개발을 완료할 것입니다. 이 이니셔티브는 데이터 센터와 전기 자동차로 인해 증가하는 메릴랜드의 에너지 수요를 해결하며, 필요한 곳에 깨끗한 전력 생성을 제공합니다. 이번 인수는 Altus Power의 커뮤니티 태양광 존재감을 확장하며, 현재 전국적으로 35,000명 이상의 가입자에게 서비스를 제공하고 있습니다.
이 프로그램은 임차인, 다가구 거주자, 주택 소유자 및 소규모 기업이 개인 태양광 패널 설치 없이 공공요금 할인으로 깨끗한 에너지 절약 혜택을 누릴 수 있도록 합니다.
Altus Power (NYSE: AMPS) a acquis dix projets solaires communautaires en phase de développement dans le Maryland auprès de Prospect14, totalisant une capacité de 58,4 MW. Une fois opérationnels, ces projets serviront environ 8.000 clients via le programme Maryland Community Solar, incluant une allocation dédiée aux ménages à faible et moyen revenu.
Dans le cadre d'un accord de services de développement, Prospect14 achèvera le développement des projets. Cette initiative répond à la demande énergétique croissante du Maryland, alimentée par les centres de données et les véhicules électriques, en fournissant une production d'énergie propre là où elle est nécessaire. Cette acquisition élargit la présence d'Altus Power dans le secteur solaire communautaire, qui dessert actuellement plus de 35.000 abonnés à l'échelle nationale.
Le programme permet aux locataires, aux résidents d'immeubles multifamiliaux, aux propriétaires de maisons et aux petites entreprises de bénéficier d'économies d'énergie grâce à des remises sur les factures d'électricité sans nécessiter l'installation de panneaux solaires personnels.
Altus Power (NYSE: AMPS) hat zehn Entwicklungsprojekte für Gemeinschaftssolarenergie in Maryland von Prospect14 übernommen, die eine Gesamtkapazität von 58,4 MW haben. Sobald die Projekte in Betrieb sind, werden sie etwa 8.000 Kunden über das Maryland Community Solar-Programm bedienen, einschließlich einer speziellen Zuteilung für Haushalte mit niedrigem und mittlerem Einkommen.
Im Rahmen eines Entwicklungsdienstleistungsvertrags wird Prospect14 die Entwicklung der Projekte abschließen. Die Initiative reagiert auf die wachsende Energienachfrage in Maryland, die durch Rechenzentren und Elektrofahrzeuge angetrieben wird, und bietet saubere Energieerzeugung dort, wo sie benötigt wird. Diese Übernahme erweitert die Präsenz von Altus Power im Bereich der Gemeinschaftssolarenergie, die derzeit über 35.000 Abonnenten landesweit bedient.
Das Programm ermöglicht es Mietern, Bewohnern von Mehrfamilienhäusern, Hausbesitzern und kleinen Unternehmen, von Einsparungen bei der sauberen Energie durch Rabatte auf die Stromrechnung zu profitieren, ohne dass eine persönliche Installation von Solarpanelen erforderlich ist.
- Strategic expansion into Maryland's growing solar market
- Addition of 58.4 MW to generation capacity
- Secured approximately 8,000 new potential customers
- Addresses increasing energy demand from data centers and EVs
- Includes dedicated allocation for low-to-moderate income households
- Projects are still in development stage, requiring completion before generating revenue
- Development timeline and costs dependent on third-party (Prospect14)
Insights
Altus Power's acquisition of 58.4 MW of development-stage community solar projects represents a strategic expansion of their portfolio that balances growth with controlled development risk. By partnering with Prospect14 through a development services agreement, Altus secures the pipeline while leveraging Prospect14's expertise to bring these assets to operational status.
The 58.4 MW addition is substantial compared to Altus Power's existing footprint and will increase their community solar customer base by approximately 8,000 subscribers – a significant addition to their current 35,000 nationwide subscribers. Importantly, this transaction aligns with industry's shift toward community solar models that can bypass transmission bottlenecks by placing generation closer to demand centers.
The Maryland Community Solar program's inclusion of low-to-moderate income household allocations brings both opportunity and complexity. While these mandated allocations serve an important social purpose, they typically operate under different margin structures than standard commercial subscriptions. The transaction structure – acquiring at development stage rather than post-construction – likely allows Altus to capture more project value while assuming greater development risk.
This acquisition follows Altus Power's established playbook of securing distributed generation assets in markets with strong regulatory support and growing demand constraints, positioning them strategically in Maryland's increasingly energy-hungry market where data centers and EV adoption are straining existing infrastructure.
This acquisition has particular significance given Maryland's current energy landscape. The state faces dual pressures from rapid data center proliferation and accelerating electric vehicle adoption, creating localized grid constraints that distributed solar can help address. By developing these projects within the community solar framework, Altus helps meet rising demand while bypassing some of the transmission buildout delays plaguing utility-scale renewables.
Maryland's community solar program has been designed with specific carve-outs for low-to-moderate income participants, addressing energy equity concerns that have become increasingly central to state energy policies. The program creates a structured market opportunity that Altus can capitalize on while serving previously underrepresented customer segments.
The location of these projects is strategically valuable as Maryland sits within the constrained PJM interconnection queue where new generation faces significant interconnection delays. Community solar's smaller footprint and distribution-level interconnections potentially face fewer approval hurdles than utility-scale projects.
This transaction demonstrates how the community solar model can align developer incentives (Prospect14) with long-term asset owners (Altus Power) through development service agreements. Such structures help overcome development bottlenecks by combining specialized expertise with patient capital. As demand growth outstrips transmission capacity across multiple states, this model of distributed generation deployment will likely become increasingly attractive to both developers and investors.
In conjunction with the acquisition, Altus Power and Prospect14 entered into a development services agreement in which Prospect14 will complete the development of the solar projects. Once operational, the projects will participate in the Maryland Community Solar program, providing the benefits of clean electric power to approximately 8,000 customers, including an allocation specifically for low-to-moderate income households.
“Altus Power has built a reputation for its ability to partner with solar developers to facilitate the deployment of distributed generation solar projects at every stage of the development process, and this transaction is an example of this trusted partnership at the early stages of development,” said Greg Roer, Managing Director, Altus Power. “Prospect14 is a premier developer, and we’re excited to partner with them to expand the opportunities for community solar in
Maryland’s energy market is facing mounting pressure as data centers and electric vehicles drive up demand for power, straining existing infrastructure and outpacing the buildout of transmission. This partnership helps to meet that demand with clean, renewable power, generated where the power is needed.
“Prospect14 is proud to work alongside Altus Power to accelerate the deployment of community solar in Maryland’s vibrant and expanding solar market,” said Carl Jackson, Partner, Prospect14. “We share a deep commitment to enabling access to renewable energy for all
This acquisition underscores Altus Power’s continued commitment to making renewable power accessible to everyone, particularly for those households for which rooftop solar isn’t an option. By expanding access to community solar, Altus Power gives renters, multifamily residents, homeowners and small businesses the opportunity to benefit from clean energy and long-term savings.
As one of the pioneers of Community Solar, Altus Power currently serves more than 35,000 subscribers nationwide. Community Solar provides homeowners and renters of all income brackets with the benefits of clean energy savings in the form of discounts on their utility bills without requiring customers to install or maintain their own solar panels. To learn more, visit https://www.altuspower.com/community-solar.
About Altus Power
Altus Power, based in
About Prospect14
Founded in 2017 and headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20250408951182/en/
Jenny Volanakis
mediarelations@altuspower.com
Source: Altus Power, Inc.
FAQ
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