Altus Power America Management LLC and four funds sponsored by Franklin Square Capital Partners are backing the creation of Altus Power America Inc. (APA) to finance solar generation projects.
Altus says APA is its fifth solar-focused operation and has enough capitalization to fund $200 million of projects. GSO Capital Partners is advising the group on the formation of APA.
In addition to investing in operational and construction-ready solar projects, Altus Power invests capital to develop projects in the form of early land option payments or feasibility studies.
Tom Athan, Altus Power co-founder and managing partner, says the infusion of capital will help position APA to pursue projects in the rapidly expanding distributed generation commercial and industrial solar marketplace.