|Over a month ago|
Altus Power initiated with an Equal Weight at Morgan Stanley » 05:4604/0704/07/22
Morgan Stanley analyst…
Morgan Stanley analyst Stephen Byrd initiated coverage of Altus Power with an Equal Weight rating and $10.50 price target. The company is well positioned to maintain a market-leading position in the commercial and industrial solar market but faces multiple risks over the near term, Byrd tells investors in a research note. He sees possible disruption of solar panel supply in 2022 given the recent decision by the Department of Commerce to investigate Chinese solar panel manufacturers for circumvention of import tariffs.
Altus Power supplies clean electrification solutions to TCC development projects » 08:1103/2903/29/22
Trammell Crow Company,…
Trammell Crow Company, TCC and Altus Power announced a strategic partnership to bring Altus Power's clean electrification solutions to TCC's real estate development projects. Under the terms of this multi-year strategic partnership, TCC will engage Altus Power to bring solar power generation, battery storage and electric-vehicle charging to its development portfolio. The initial focus will be 35 million sq. ft. of U.S. industrial assets in TCC's development pipeline. This partnership is expected to generate 300 MW of building-sited, locally generated solar power across the United States over the next three to four years, with battery storage capacity and electric-vehicle charging. TCC and Altus Power plan to expand the partnership to include other assets in the future. "Our partnership with Altus Power will greatly accelerate the integration of clean energy into our properties and we expect it to meaningfully reduce our carbon footprint," said Mike Lafitte, CEO of TCC. "This partnership is directly responsive to our capital partners and occupier clients who expect us to deliver sustainably built real estate." "We are excited about this first-of-its-kind partnership to bring clean electrification to the nation's largest commercial real estate development platform," said Lars Norell, Co-CEO of Altus Power. "This partnership underscores the significant opportunity that is available in the commercial and industrial solar market, and we look forward to working with other real estate owners, developers and occupiers to accelerate their transition to a lower carbon footprint
Altus Power falls -10.4% » 10:0003/2503/25/22
Altus Power is down…
Altus Power is down -10.4%, or -81c to $6.99.
CBRE Investment Management, Altus Power to build rooftop solar projects » 07:0703/2503/25/22
CBRE Investment Management (CBRE) and Altus Power (AMPS) announced plans to build and operate a portfolio of rooftop community solar projects to provide renewable energy to residential customers and CBRE IM logistics tenants in Maryland. These projects are expected to produce savings for approximately 5,700 residential customers in Maryland. CBRE IM and Altus Power each have a long-standing presence in Maryland and together are proud to bring the benefits of community solar to a broader segment of residential customers within the state. Rooftop-based solar systems of up to approximately 20MW will be located on the logistics facilities that are owned by CBRE IM's funds. Power generated from these solar systems is to be provided to both commercial tenants and residential customers. Thirty percent or more of the generated electricity is also to be allocated to low and moderate income residential customers in the state. Energy storage and electric vehicle charging may be added to these facilities in the future.
Altus Power sees FY22 adjusted EBITDA $57M-$63M vs. $41.0M in FY21 17:3003/2403/24/22
Altus Power reports Q4 EPS 7c vs. (3c) last year » 17:2903/2403/24/22
Reports Q4 revenue $21.6M…
Reports Q4 revenue $21.6M vs. $11.3M last year. "In 2021, Altus Power continued to drive our business forward, providing clean electrification options to customers and growing our operating footprint. At the same time, we executed on strategic partnerships and added key personnel to provide for our growing customer pipeline," said Lars Norell, Co-CEO of Altus Power. "Altus Power expects to continue our success through emphasis on streamlined customer acquisition, leveraging digital capabilities and deploying low cost capital."
Altus Power falls -9.8% » 10:0003/2403/24/22
Altus Power is down…
Altus Power is down -9.8%, or -78c to $7.19.
|Over a quarter ago|
Altus Power, Heliene establish solar module manufacturing partnership » 07:0602/0102/01/22
Altus Power and Heliene…
Altus Power and Heliene announced a strategic partnership to support solar module manufacturing in the United States. Under the terms of a three-year strategic supply agreement, Altus Power will have the option to purchase up to 250 MW of high efficiency solar modules from Heliene, securing Altus Power reliable access to domestically manufactured high performance solar modules for use in construction of solar generation projects across the U.S. At a time of supply chain bottlenecks and trade volatility, which challenge the U.S. industry's ability to meet rapidly growing solar demand, this agreement is designed to enable Altus Power to continue to deliver commercial, industrial, and community solar projects with the added value of Made in America solar PV modules. In connection with the execution of the multi-year supply agreement, Altus Power has committed to invest up to $5M in Heliene as part of that company's anticipated initial public capital raise in connection with its proposed reverse take-over transaction with Buzz Capital 2 Ltd. and listing on the TSX Venture Exchange.
Altus Power names Dan Alcombright Chief Platform Officer » 07:1401/2601/26/22
Altus Power appointed Dan…
Altus Power appointed Dan Alcombright to the newly created position of Chief Platform Officer. Alcombright began work in this position on January 3rd. Alcombright, who most recently worked for Duke Energy prior to joining Altus Power, will join the company's leadership team and oversee its strategy to scale operations across the platform, build sustainable value through its alliances with portfolio partners. Prior to joining Altus Power, Alcombright began his career as a manufacturing automation software engineer. In 2009 Alcombright joined the renewable energy industry as President and CEO of SOLON Corporation. Most recently, Mr. Alcombright worked at Duke Energy's subsidiary REC Solar, Alcombright will also serve as a member of the newly created Executive Operations Committee together with Julia Sears, Chief Digital Officer, and Sophia Lee, Chief Legal Officer. The Executive Operations Committee has been tasked with overseeing and guiding the execution of a digital operations platform that will increase the velocity of information sharing and flow of data between customer origination, asset development and construction and asset operations.
Altus Power participates in a conference call with JPMorgan » 09:5501/2101/21/22
Alternative Energy &…
Alternative Energy & Services Analyst Strouse holds a conference call with Co-CEO Felton on January 21 at 10:30 am hosted by JPMorgan.