Altus Power Announces New Awards in the Illinois Community Solar Program

Rhea-AI Summary

Altus Power awarded program allocation for 18 MWs of new rooftop Community Solar arrays in Illinois, benefiting residential and commercial customers with clean energy at a discount. Real estate partners to receive rental income from rooftop lease agreement. Illinois Shines program supports development. Altus Power currently serves over 20,000 Community Solar subscribers nationwide.

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• Altus Power awarded program allocation for 18 MWs of new rooftop Community Solar arrays in Illinois, benefiting residential and commercial customers with clean energy at a discount. Real estate partners to receive rental income from rooftop lease agreement. Illinois Shines program supports development. Altus Power currently serves over 20,000 Community Solar subscribers nationwide.

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STAMFORD, Conn.--(BUSINESS WIRE)-- Altus Power (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced it has been awarded program allocation for an additional 18 MWs of new rooftop Community Solar arrays that are expected to provide the benefits of clean energy at a discount to residential and commercial customers in the state of Illinois. The planned arrays will be built on rooftops across several portfolios of real estate throughout the state, including assets managed by Iron Mountain, CBRE Investment Management and other industrial owners of real estate, all of which will receive rental income from a rooftop lease agreement with Altus Power.

“We are excited to continue growing in Illinois and to deliver value to our real estate partners who are focused on the decarbonization of their real estate portfolios, while also delivering the benefits of clean electric power to households,” said Lars Norell, Co-CEO of Altus Power. "We look forward to working with additional asset owners and developers in Illinois and across the country to identify opportunities to develop our commercial-scale solutions on available commercial and industrial spaces.”

The program allocations were made as part of Illinois Shines, a program supporting the development of on-site solar and community solar projects under the Climate and Equitable Jobs Act (CEJA) as approved by the Illinois legislature and signed by the Governor in 2021. These arrays are expected to produce savings for hundreds of Illinois residents, including a significant portion of qualified low- and moderate-income households. Individuals who become subscribers will generate savings on their monthly utility bills while also supporting Illinois’ transition to clean electric power.

As one of the pioneers of Community Solar, Altus Power currently 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.

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For More Information:

Chris Shelton

Head of IR

mediarelations@altuspower.com

Source: Altus Power, Inc.