From: Mercom India
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, has acquired 92 projects across 13 states from Arevon, adding nearly 200 MW of solar capacity and 10 MWh of battery storage to its operating portfolio.
Following the acquisition, Altus Power’s operating solar and battery storage portfolio has reached 1.7 GW across 33 states and Washington, D.C.
The acquired projects expand the company’s presence in New York, New Jersey, Massachusetts, and California. Altus Power said the increased concentration of projects in these markets would improve the efficiency of operations and maintenance across its portfolio.
“Electricity demand is growing rapidly, while the grid infrastructure needed to deliver new power can take years to build,” said Gregg Felton, Chief Executive Officer, Altus Power. “Distributed generation can help close that gap by bringing new supply directly to the businesses and communities that need it. Reaching 1.7 gigawatts is a milestone for us, but the more important point is that local power is becoming a bigger part of how the country meets its energy needs.”
The company’s portfolio includes ground-mounted, rooftop, and carport solar projects, along with battery storage. The projects serve commercial and industrial customers, municipalities, schools, universities, and community solar subscribers.
Altus Power financed the acquisition in part through its existing credit facility with Blackstone Credit & Insurance. The company did not disclose the acquisition price or the amount drawn from the facility.
Marathon Capital served as the exclusive financial adviser to Arevon on the transaction.
In April 2026, the company announced the acquisition of a solar + storage project from Arevon, located on the carport at the Croton‑Harmon Train Station in Westchester County, New York. The project consists of approximately 4.2 MW of solar generation, integrated with a 15 MWh battery energy storage system.
Previously, Altus Power acquired 105 MW of solar projects from Cordelio Power, an independent solar, wind, and energy storage power producer, in January 2026. The acquired projects comprise four ground-mounted solar installations located across New York State.
According to Mercom’s 9M and Q3 2026 Solar Funding and M&A report, approximately 34.4 GW of solar projects were acquired in the first nine months of 2026, compared to 29 GW in the same period during 2025.
