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Energy - JULY 15, 2021

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Blackstone-backed Altus Power to go public with CBRE, forming $1.58b firm

by Released

Altus Power, a Blackstone-backed clean-electrification company, will go public via a business combination with CBRE Acquisition Holdings. The pro forma implied equity value of the combined company is $1.58 billion.

Headquartered in Greenwich, Conn., Altus Power is currently wholly owned by its management team and Blackstone Credit, and delivers savings and sustainability benefits to its rapidly growing pool of commercial, public-sector and community-solar customers. Altus Power serves its customers by offering locally sited solar generation, energy storage and electrical-vehicle-charging stations across the United States. Since its founding in 2009, Altus Power has constructed or acquired more than 200 distributed-generation solar facilities totaling more than 265 megawatts from Vermont to Hawaii. The company expects to end 2021 with a solar asset portfolio of more than 400 megawatts. Altus Power has generated significant EBITDA since 2017.

The transaction is anticipat

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