US community and commercial & industrial (C&I) solar developer Altus Power has acquired four solar projects with a total capacity of 105MW from independent power producer (IPP) Cordelio Power.
The ground-mounted projects under construction in New York State have secured 20-year Renewable Energy Standard (RES) contracts with the New York State Energy Research and Development Authority (NYSERDA).
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“Working closely with Cordelio, our teams executed the acquisition of approved, in-progress projects, demonstrating our ability to step in and advance development efficiently to deliver reliable, affordable power in support of NYSERDA’s mission,” said Matt Marlow, co-head, investment and structured finance, Altus Power.
Altus Power owns and operates more than 1.3GW of commercial-scale solar, including community solar, across over 600 projects in 30 states and Washington, DC. The acquisition forms part of the company’s strategy to scale its portfolio through the purchase of late-stage assets from development partners. New York remains Altus Power’s largest market, with 65 owned and operated projects totalling around 265MW.
In December 2025, Altus Power acquired a 234MW solar portfolio from independent power producer Greenbacker. The portfolio comprised around 100 projects across 18 states and was supported by long-term contracts with a diverse customer base, including a global e-commerce and logistics company, a regional university and major utilities.
Altus continued to expand its US portfolio in 2025 with the acquisition of ten development-stage community solar projects in Maryland from Prospect14, adding 58.4MW of capacity, with no commissioning timeline disclosed.
Earlier deals included the US$118 million purchase of an 84MW commercial solar portfolio from Vitol in February 2024, covering ground-mount, rooftop and carport assets across New Jersey, New York and Maine, followed by a US$100 million capital raise and the acquisition of 121MW of solar assets in the Carolinas in January 2024.
Altus was acquired by TPG Rise Climate Transition Infrastructure in February 2025 for US$2.2 billion.
