M&A Deal Summary

Altus Power Acquires Greenbacker - 234 MW Portfolio

On December 18, 2025, Altus Power acquired renewable energy company Greenbacker - 234 MW Portfolio from Greenbacker Renewable Energy Co.

Acquisition Highlights
  • This is Altus Power’s 2nd transaction in the Renewable Energy sector.
  • This is Altus Power’s 2nd transaction in the United States.
  • This is Altus Power’s 1st transaction in New York.

M&A Deal Summary

Date 2025-12-18
Target Greenbacker - 234 MW Portfolio
Sector Renewable Energy
Buyer(s) Altus Power
Sellers(s) Greenbacker Renewable Energy Co.
Deal Type Divestiture

Target

Greenbacker - 234 MW Portfolio

New York, New York, United States
Greenbacker's 234 MW Portfolio has more than 100 distributed solar generation and storage sites across 18 U.S. states. Greenbacker's 234 MW Portfolio is based in New York, New York.

Search 214,877 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Altus Power

Stamford, Connecticut, United States

Category Company
Founded 2009
Sector Renewable Energy
Employees93
Revenue 155M USD (2023)
DESCRIPTION

Altus Power is a 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. Altus Power was founded in 2009 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 2 of 2
Sector: Renewable Energy M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-27 Construction Solar Assets - 220 Megawatts

Westport, Connecticut, United States

Construction Solar Assets - 220 Megawatts add approximately 207 MW of commercial-scale solar assets to Altus Power’s operations, with the remaining 13 MW in the final stages of construction and expected to be completed in the coming months. This portfolio offers additional scale in Altus Power’s existing markets including California, Colorado, Illinois, Massachusetts, New Jersey, and New York and provides entry into two new markets of Delaware and South Carolina. 220 Megawatts - Construction Solar Assets.

Buy $293M

Seller(S) 1

SELLER

Greenbacker Renewable Energy Co.

New York, New York, United States

Category Company
Founded 2012
Sector Renewable Energy
DESCRIPTION

Greenbacker Renewable Energy Co. LLC engages in acquiring and financing the construction and/or operation of income-generating renewable energy, energy efficiency, and sustainable development projects primarily in North America. Its investments in alternative energy generation portfolios cover solar and wind energy projects. The company was founded in 2012 and is based in New York, New York.


DEAL STATS #
Overall 2 of 2
Sector: Renewable Energy M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: New York M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 Telyon

Old Saybrook, Connecticut, United States

Telyon is a turnkey renewable energy developer within the commercial and industrial sector. Telyon is based in Old Saybrook, Connecticut.

Buy -