Altus Power and Brightcore Energy Announce Completion of Multiple Solar Projects Across New Jersey

Rhea-AI Summary

Altus Power and Brightcore Energy complete 19 solar arrays across New Jersey, adding 7.4 MWs of clean electric power to the local community

Positive

• Altus Power and Brightcore Energy have successfully completed 19 solar arrays in New Jersey, adding 7.4 MWs of clean electric power to the local community.
• Altus Power's total solar capacity in New Jersey now stands at 120 MWs, with an additional 40 MWs expected to be completed by the end of 2023.
• The Brennan assets are expected to produce clean electricity, reducing carbon dioxide emissions by 5,200 metric tons annually.

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• None.

Clean electric power to benefit local residents through New Jersey’s Community Solar program

STAMFORD, Conn.--(BUSINESS WIRE)-- Altus Power, Inc., (NYSE: AMPS), the leading commercial-scale provider of clean electric power, and Brightcore Energy, a leader in developing and implementing renewable energy solutions for the commercial and institutional market, today announced the completion of 19 solar arrays across New Jersey utilizing rooftops from Brennan Investment Group’s portfolio of logistics buildings. In total, the assets will represent 7.4 megawatts (MWs) of solar arrays which will be owned and operated by Altus Power and will offer the benefits of clean, electric power to the local community.

“New Jersey has one of the fastest growing community solar programs in the country and Altus Power and Brightcore Energy have been working together to make this program a reality,” said Gregg Felton, co-CEO and co-founder, Altus Power. “Brennan has proven to be an important partner for Altus in developing and constructing solar projects that will benefit the entire community.”

“We are pleased to have the opportunity to work with Altus Power and Brennan to develop this project to bring green, sustainable energy to the surrounding communities. This project was rather unique in that it encompassed so many locations within one project. There was quite a bit of coordination to align all the logistics,” said Mike Richter, President of Brightcore Energy.

The 7.4 MWs add to Altus Power’s total of 120 MWs across New Jersey as of June 30^th of this year and is part of the expected 40 MWs to be completed in the state by the end of 2023. The Brennan assets are expected to produce clean electricity avoiding the equivalent of 5,200 metric tons of carbon dioxide annually.

Altus Power serves more than 20,000 Community Solar subscribers nationwide. Community Solar provides homeowners and renters of diverse income brackets access to the benefits of clean energy and power bill savings without the requirement of roof space or home-installation of solar panels. Customers interested in the benefits of clean energy can learn more by visiting www.altuspower.com.

About Altus Power

Altus Power, based in Stamford, Connecticut, is the leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

About Brightcore Energy

Brightcore Energy, based in Armonk NY, is a leading provider of end-to-end clean energy solutions to the commercial and institutional market. Solutions include high-efficiency heating and cooling systems (geothermal) for both new construction and existing building retrofits, commercial-grade solar, LED lighting and controls, energy storage, electric vehicle (EV) charging stations, smart building solutions, and other emerging technologies. Brightcore’s turnkey, end-to-end solutions encompass; preliminary modeling & feasibility, design & engineering, financing & incentive management, construction & implementation, and system performance monitoring. Visit www.BrightcoreEnergy.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019553237/en/

For More Information:

Chris Shelton

Head of Investor Relations

mediarelations@altuspower.com

Source: Altus Power, Inc.

FAQ

Who completed the solar arrays in New Jersey?

Altus Power and Brightcore Energy.

How much clean electric power was added to the local community?

7.4 MWs.

What is Altus Power's total solar capacity in New Jersey?

120 MWs.

How much more solar capacity is expected to be completed by the end of 2023?

40 MWs.

How much carbon dioxide emissions are expected to be reduced annually?

5,200 metric tons.