Altus Power gets $200 million five-year revolver

By Wendy Van Sickle

Columbus, Ohio, Dec. 19 – Altus Power, Inc. closed on a revolving credit facility that provides up to $200 million in financing to support the company’s growth of assets and ability to serve additional customers with solar energy generation, storage and vehicle charging, according to a news release.

The revolver has a five-year term, with a maturity of Dec. 19, 2027.

The credit facility enhances the company’s liquidity and financial flexibility as it pursues growth initiatives and development activities.

“Securing a corporate revolver is one of the milestones that marks our maturity as a publicly traded company. The additional flexibility provided by our new credit facility allows us to confidently invest our cash position to grow our business and is one of the many competitive advantages we enjoy alongside our strategic partnerships with CBRE and Blackstone,” said Dustin Weber, chief financial officer of Altus Power, in the release.

The lead arrangers and bookrunners were Citibank, NA, Bank of America, NA, JPMorgan Chase Bank, NA, KeyBank NA and Truist Securities, Inc.

Stamford, Conn.-based Altus Power invests in, owns and operates clean energy projects.

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