Altus Power announced the acquisition of five community solar projects from New Leaf Energy, currently under development in Virginia. The 32-megawatt portfolio will participate in Appalachian Power Company’s shared solar program and is expected to deliver clean power benefits to approximately 5,000 homes.
The ground-mounted projects mark Altus Power’s expansion of its community solar footprint into Virginia and represent the first collaboration between Altus Power and New Leaf Energy.
The projects are designed to deliver direct savings to eligible households and businesses through solar bill credits under APCo’s shared solar program. Altus Power, one of the pioneers of community solar, currently serves more than 40,000 subscribers nationwide and operates more than 1.4 gigawatts of solar generation assets across 30 states and the District of Columbia.
KEY QUOTES:
“Virginia has made a clear commitment to protecting ratepayers from rising electricity costs through the expansion of clean, incremental power and this program is a key part of that vision. We’re excited to be partnering with New Leaf Energy to help bring it to life, combining our strengths to successfully navigate a new market and deliver real savings to households and businesses across the state.”
Abhi Parmar, Chief Investment Officer, Altus Power
“This partnership demonstrates how quickly community solar can scale when strong development and execution come together. Our team is proud to have partnered with Altus Power on the development of these projects and expand clean, affordable energy for communities across the Commonwealth.”
Kate Vann, Senior Director and Head of Mergers & Acquisitions, New Leaf Energy
“We’re proud to help establish and shape a new shared solar program that puts affordability front and center for customers. This is about unlocking new pathways: working alongside partners to open new markets, expand access to community solar and ensure more households and businesses can benefit from locally generated, lower cost clean energy.”
Skylar Werde, Head of Community Solar, Altus Power
