Welcome to our dedicated page for Altus Power news (Ticker: $AMPS), a resource for investors and traders seeking the latest updates and insights on Altus Power stock.
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Altus Power, Inc. (NYSE: AMPS) announced the closing of a $100 million secured credit facility with Goldman Sachs and CPP Investments. The facility will support ongoing expansion plans with an 8.50% interest rate and a six-year term, prepayable without penalty after three years. Altus Power's CFO and Co-CEO expressed optimism about the company's expected growth and market positioning.
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-4.71%
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Altus Power, Inc. (NYSE: AMPS) expands its presence in the Southeast through the acquisition of Project Hyperion, LLC, adding 121 megawatts in solar assets primarily in North and South Carolina. The acquisition introduces new government and municipal entities into Altus' portfolio, aiming to reach sustainability goals through clean electric power. Altus Power plans to grow its portfolio to almost 900 MWs by the end of 2023.
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Altus Power (NYSE: AMPS) acquires Unico Solar's core business, development platform, and pipeline, expanding its presence on the West Coast. The acquisition aims to supercharge project development for real estate owners and users on a national scale, adding significant local coverage to be closer to nationwide real estate partners and enterprise customers.
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Brightcore Energy (AMPS) announces a new solar project with Altus Power and Brennan Investment Group. The project involves 16,000 solar panels across 19 properties, projected to produce 8,993MWh of electricity annually. The project is expected to reduce CO2 emissions and greenhouse gas emissions significantly.
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2.81%
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Altus Power (AMPS) co-CEOs to participate in industry conferences and investor meetings, highlighting recent accomplishments such as a non-bank syndicated construction facility, multiple sources of origination, and a new 121 MW portfolio. Altus Power's portfolio serves enterprises across 25 states committed to achieving carbon reduction goals, with a focus on distributed solar arrays and Community Solar.
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2.81%
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Altus Power, Inc. (NYSE: AMPS) announced the closing of its Blackstone Construction Facility, a $200 million capacity facility provided by insurance companies to fund the construction of commercial solar assets. This facility will cover costs for equipment, labor, interconnection, and development fees, providing Altus Power with additional capital for construction activity. The facility is designed to optimize working capital and support the company's expansion in 2024 and beyond.
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-11.6%
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Altus Power, Inc. (NYSE: AMPS) reported third quarter 2023 revenues of $45.1 million, a 48% increase over the same period in 2022. The company also announced a GAAP net income of $6.8 million for the third quarter, marking a significant improvement over the previous year. Additionally, Altus Power's adjusted EBITDA for the third quarter of 2023 reached $29.1 million, reflecting a 50% increase over the same period in 2022. The company also highlighted recent business achievements, including an agreement to acquire 121 MW of solar assets for $120.4 million and the unveiling of Altus IQ, an AI-powered carbon accounting platform for businesses.
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-11.6%
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Transwestern Investment Group (TIG) and Altus Power announce a strategic partnership to develop solar arrays and battery storage solutions for TIG's industrial real estate properties in Southern California, aiming to improve investors' net operating income and attract tenants. The partnership aligns with TIG's commitment to sustainable investing and ESG objectives.
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Altus Power, a leading provider of clean electric power, announced the addition of Tina Chan Reich to its Board of Directors. Reich brings twenty-five years of risk management and data science experience, having served in leadership positions at American Express, Citibank, and JPMorgan Chase. She will contribute her expertise in digital transformation and technology to Altus Power's strategy.
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Altus Power, Inc.
NYSE:AMPS
AMPS Rankings
AMPS Stock Data
709.84M
54.65M
49.13%
53.34%
5.19%
Solar Electric Power Generation
Utilities
United States of America
STAMFORD
About AMPS
altus power america management is an asset management firm that invests in renewable energy with sustainable returns. altus deploys capital to build and operate clean energy systems on commercial properties, schools and municipal buildings. the electricity generated from these systems is then sold to the host at a discount to the price paid to the grid. the host makes no upfront investment. these systems use proven technologies and are built to generate stable and sustainable cash flows and returns and to lower energy costs for the hosts, while lowering carbon emissions and reliance on fossil fuels. altus invests in, trades, and structures portfolios of renewable energy certificates, carbon offsets and other renewable attributes.