Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, announced the acquisition of a 12 MW solar project portfolio from Hecate Energy, a renewable energy project developer.
The solar projects are already operational and are located across Florida, Georgia, Maryland, and Rhode Island, supporting a broad range of enterprise and utility off-takers.
Altus Power has 1.3 GW of operating solar capacity across more than 600 projects spanning 30 states and Washington, DC. Altus Power continues to scale in regions where customer requirements align with durable, long-term fundamentals.
Ignite Renewable Capital served as the exclusive sell-side advisor to Hecate Energy.
“This portfolio underscores the power of our differentiated platform–disciplined investment, efficient execution, and long-term customer partnerships,” said Dan Griffin, Co-Head of Investment and Structured Finance, Altus Power. “These projects enhance our existing asset base and expand our ability to deliver dependable, cost-effective power to customers across strategic markets with high demand.”
Last year December, the company announced the acquisition of a 234 MW portfolio of solar and storage projects from Greenbacker, a renewable energy investment firm. The acquired portfolio is backed by long-term contracts with a diverse set of high-quality, investment-grade customers, including a global e-commerce and logistics company, a regional university, and utilities. Winston & Strawn LLP served as Altus Power’s exclusive legal counsel on the transaction.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s 9M and Q3 2025 Solar Funding and M&A report.
In December, BayWa r.e., a renewable energy project developer, along with its Dutch subsidiary GroenLeven, announced the completion of the sale of a 46 MW floating solar project in Friesland, the Netherlands.
