Blackstone partners with Altus Power America for $850m recapitalization
Energy - JANUARY 14, 2020

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Blackstone partners with Altus Power America for $850m recapitalization

by Kali Persall

Blackstone has backed Altus Power America, a solar power company that provides clean electricity to commercial, industrial and municipal clients across the United States, with a $850 million recapitalization initiative.

Made through Blackstone’s GSO Capital Partners and Blackstone Insurance Solutions (BIS) groups, the recapitalization will refinance the existing capital structure and fund future development, according to Altus Power.

The company noted that the recapitalization consists of preferred and minority equity and investment grade–rated debt financing provided by GSO and a BIS-led consortium, as well as a construction-to-term loan facility from a syndicate of commercial banks.

Altus said the partnership was created to meet a growing demand for locally sited solar arrays and often battery storage combinations, capable of producing energy savings for off-takers. The restructuring will pump Altus Power with enough capital to grow its portfolio to more t

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