Altus Power Announces Hawaii’s First Large-Scale Community Solar Array

Will deliver Oahu residents access to clean and discounted electric power

STAMFORD, Conn.–(BUSINESS WIRE)–Altus Power (NYSE: AMPS) today announced Hawaii’s largest Community Solar project to date that will soon deliver clean electric power at a discount to a local medical facility, its employees, and residents of Oahu. Consumers who subscribe to Altus Power’s Community Solar Partnership Program will generate savings on their monthly utility bills while also supporting Hawaii’s transition to clean electric power, with a projected savings of up to $500 annually, compared to their local utility bills.

Upon completion of the 5-megawatt array expected this summer, Altus Power will sell approximately 60% of the clean electricity generated to a non-profit company that operates a medical facility and the remaining 40% of the electricity will be available to benefit the homes of employees and other local residents. Altus Power will own and operate the ground-mounted solar farm in Kapolei and deliver the power into the Hawaiian Electric grid.

“Community Solar allows residents to access the benefits of clean electric power at a discount, whether you live in an apartment building or a single-family home,” said Lars Norell, co-CEO and co-founder, Altus Power. “As one of the first large-scale Community Solar providers in Hawaii, we’re committed to help the state reach its goal of 100% renewable energy by 2045.”

“We’re excited the shared solar program is taking root and opening up to residential customers who haven’t been able to install private rooftop solar,” said Lani Shinsato, co-director of customer energy resources, Hawaiian Electric. “Providing customers with options is critical, and shared solar projects like this will allow subscribers to reduce their energy bill and take part in the state’s clean energy transition.”

Altus Power currently serves more than 20,000 Community Solar subscribers nationwide. Community Solar provides homeowners and renters of diverse income brackets access to the benefits of clean energy and power bill savings without the requirement of installing solar panels on their roofs. Customers interested in the benefits of clean energy can subscribe to Altus Power’s commercial-scale solar arrays by visiting our community solar website to apply Once approved, there’s no upfront cost or special equipment necessary to begin receiving credits. Employers interested in offering Community Solar to their employees can contact Altus Power here.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is the premier independent 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. Visit our website to learn more.

Contacts

Altus Power:
Chris Shelton

Head of IR

InvestorRelations@altuspower.com