Altus Power, Inc. (" Altus Power " or the "Company") today announced that it has received authorization from leading New England utility Eversource for Altus Power to begin operating the Company's Hinsdale, Massachusetts solar facility.
Altus Power previously announced an agreement for a business combination with CBRE Acquisition Holdings, Inc. (NYSE: CBAH ), which is expected to result in Altus Power becoming a public company listed on the New York Stock Exchange. CBAH is a special-purpose acquisition company sponsored by CBRE Group, Inc ("CBRE"). The transaction is expected to close in Q4 2021.
The 4.2-megawatt ("MW"), ground-mount system in Hinsdale enables Altus Power to participate in the Solar Massachusetts Renewable Target (SMART) program. The Massachusetts Division of Energy Resources established the SMART program to create 1,600 MWs of new energy production from solar generation sources.
The Hinsdale system is expected to generate nearly 5,000 MWhs of clean electricity per year, saving the equivalent of approximately 3,500 tons of CO 2 emissions annually.
"Altus is proud to expand our footprint in Massachusetts and provide much-needed clean energy to our off-takers. This is our tenth project under the Massachusetts SMART program and we are pleased to be helping local utilities achieve their clean energy goals," said Altus Power Co-Founder and Co-CEO, Lars Norell.
Source: Altus Power, Inc.
Date: Oct 19, 2021
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