Altus Power Acquires Ten Maryland Community Solar Projects, Totaling 58.4 MW, from Prospect14

STAMFORD, Conn.--(BUSINESS WIRE)-- Altus Power (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced the acquisition of ten development-stage community solar projects totaling 58.4 MW in Maryland from Prospect14, a leading distributed solar energy development firm.

In conjunction with the acquisition, Altus Power and Prospect14 entered into a development services agreement in which Prospect14 will complete the development of the solar projects. Once operational, the projects will participate in the Maryland Community Solar program, providing the benefits of clean electric power to approximately 8,000 customers, including an allocation specifically for low-to-moderate income households.

“Altus Power has built a reputation for its ability to partner with solar developers to facilitate the deployment of distributed generation solar projects at every stage of the development process, and this transaction is an example of this trusted partnership at the early stages of development,” said Greg Roer, Managing Director, Altus Power. “Prospect14 is a premier developer, and we’re excited to partner with them to expand the opportunities for community solar in Maryland through the development of a portfolio of renewable energy projects that will be owned and operated by Altus Power.”

Maryland’s energy market is facing mounting pressure as data centers and electric vehicles drive up demand for power, straining existing infrastructure and outpacing the buildout of transmission. This partnership helps to meet that demand with clean, renewable power, generated where the power is needed.

“Prospect14 is proud to work alongside Altus Power to accelerate the deployment of community solar in Maryland’s vibrant and expanding solar market,” said Carl Jackson, Partner, Prospect14. “We share a deep commitment to enabling access to renewable energy for all Maryland households, and this portfolio demonstrates what’s possible when innovative development meets long-term ownership and operational excellence.”

This acquisition underscores Altus Power’s continued commitment to making renewable power accessible to everyone, particularly for those households for which rooftop solar isn’t an option. By expanding access to community solar, Altus Power gives renters, multifamily residents, homeowners and small businesses the opportunity to benefit from clean energy and long-term savings.

As one of the pioneers of Community Solar, Altus Power currently serves more than 35,000 subscribers nationwide. Community Solar provides homeowners and renters of all income brackets with the benefits of clean energy savings in the form of discounts on their utility bills without requiring customers to install or maintain their own solar panels. To learn more, visit https://www.altuspower.com/community-solar.

About Altus Power

Altus Power, based in Stamford, Conn., is the leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

About Prospect14

Founded in 2017 and headquartered in Ardmore, Pennsylvania, Prospect14 focuses on the scaled origination and development of renewable energy projects in multiple markets in the United States. Since its inception, Prospect14 has originated more than 6.5 GWdc of solar and solar + storage projects. For more information, please visit www.prospect14.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250408951182/en/

Jenny Volanakis

mediarelations@altuspower.com

Source: Altus Power, Inc.