Altus Power (NYSE: AMPS) expands its presence on the West Coast with the strategic acquisition of Unico Solar.
Growth Momentum Continues
Altus Power, a prominent provider of commercial-scale clean electric power, is set to solidify its West Coast presence through the acquisition of the core business of Unico Solar Investors. This move marks a strategic expansion for Altus Power.
Comprehensive Acquisition
Altus Power will acquire Unico Solar’s development platform, pipeline, senior leadership team, and establish new offices in Denver and Seattle. The acquisition enhances Altus Power’s local coverage, positioning the company closer to nationwide real estate partners and enterprise customers.
Overcoming Adoption Barriers
Unico Solar has excelled in overcoming customer adoption barriers for commercial rooftop and community solar projects, particularly in the western U.S. This acquisition combines Altus Power’s industry leadership with Unico Solar’s dynamic solar development platform, promising accelerated project development on a national scale.
Efficient Asset and Platform Acquisition
Altus Power’s ability to efficiently acquire assets and platforms is underscored by this strategic move. As part of the acquisition, Unico Solar’s development platform and pipeline will become wholly owned by Altus Power, integrating Unico Solar’s development team with Altus Power’s customer-centric approach.
Altus Power’s Nationwide Impact
Altus Power’s portfolio spans 25 states, serving enterprises committed to carbon reduction goals. The company’s distributed solar arrays, coupled with its pioneering role in Community Solar, cater to over 20,000 subscribers nationwide. Community Solar offers clean energy savings to homeowners and renters across diverse income brackets.
Source：businesswire.com
