Altus Power Closes Financing from Goldman Sachs and CPP Investments

Source: United States Department of Agriculture. Altus Power has finalized a secured credit facility worth $100 million, funded by an affiliate of Goldman Sachs Asset Management and CPPIB Credit Investments III, which is a subsidiary of the Canada Pension Plan Investment Board. The company intends to use the funds from this facility to assist in its ongoing growth. The facility has a term of six years and an 8.5% interest rate, and can be prepaid without any penalty after three years. “We are delighted to introduce Goldman Sachs and CPP Investments as partners in Altus Power, their capital will help finance our anticipated growth strategies in 2024,” stated Dustin Weber, CFO of Altus Power. “This funding takes advantage of our increasing cash flow, which has been a key characteristic of our business approach.” Gregg Felton from Altus Power added that their pipeline harbors a compelling assortment of operating and development assets. With this efficient funding, they are in an admirable position to capitalize on these prospects. “We are confident that this new establishment enables us to expand our market holdings, while assuring our clients of transaction assurance and sustaining a steady growth in profits for our investors.”