Oct. 14 (Bloomberg) — Altus Power America Management LLC,
a U.S. investor in renewable-energy projects, is getting $125
million from Franklin Square Capital Partners for commercial and
industrial solar projects.
Blackstone Group LP’s GSO Capital Partners LP advised on
the financing, said Tom Athan, managing partner and co-founder
of Altus. Including third-party tax equity and debt, the funding
is enough for solar projects worth about $200 million.
“The acceptability of solar from building owners and state
governments is becoming greater, so there’s more available
investment opportunity,” Athan said yesterday in a telephone
Altus, based in Old Greenwich, Connecticut, is using the
funds to create its fifth company focused on solar investments.
Annual returns from the newly formed Altus Power America Inc.
are expected to be at least 8 percent, Athan said.
Earlier this year, Altus said it was working with Macquarie
Group Ltd. to invest as much as $100 million in land that would
be leased to developers of large-scale power projects.
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