Greenbacker advances strategic focus on scaled clean energy, with sale of 237 MW solar and storage portfolio to Altus Power
NEW YORK, NY, January 13, 2026 — Greenbacker, an energy transition-focused investment manager and independent power producer, today announced the sale of a 237-megawatt portfolio of solar generation and storage assets to Altus Power, a long-term owner and operator of U.S.-based commercial-scale solar assets. The portfolio sale, which comprises more than 100 projects across 18 states, underscores Greenbacker’s commitment to fleet optimization as the company sharpens its focus on scaled renewable energy infrastructure projects.
“This transaction advances Greenbacker’s strategic focus on larger, utility-scale projects that drive greater efficiency and long-term value creation, while strengthening the U.S. energy system,” said Dan de Boer, CEO of Greenbacker. “We believe it reflects our disciplined approach to portfolio management and to deploying capital where it can achieve the greatest impact for shareholders, project partners, and the energy transition. We’re pleased to partner with Altus Power on this transaction, whose experience and long-term stewardship align with our shared goal of delivering reliable clean power to communities nationwide.”
“This acquisition demonstrates Altus Power’s ability to transact at scale and deliver reliable, cost-effective power solutions nationwide,” said Abhi Parmar, Chief Investment Officer, Altus Power. “Our disciplined approach and deep operational expertise enable us to serve as a long-term steward for these assets, creating enduring value for our customers, investors, and all stakeholders involved.”
The transaction with Altus Power follows Greenbacker’s sale of a 51 MW distributed solar portfolio earlier in 2025, reinforcing Greenbacker’s broader strategy to optimize its project fleet for long-term growth with selective sales of non-core assets. It also follows the company’s milestone financing of nearly $1 billion to construct its largest project to date—the 674 MWdc utility-scale solar farm in New York, which is expected to become the state’s largest solar energy project upon completion, expected at the end of 2026.
KeyBanc Capital Markets Inc. ("KBCM"), the corporate and investment banking arm of Cleveland-based KeyCorp (NYSE: KEY), served as the exclusive financial advisor to Greenbacker on the transaction.
Greenbacker continues to advance its mission to accelerate the energy transition through investments in sustainable infrastructure. As of September 30, 2025, Greenbacker’s clean energy assets have cumulatively produced approximately 14 million megawatt-hoursi of renewable power—abating over 9 million metric tons of carbon emissionsii and conserving nearly 10 billion gallons of water.iii Greenbacker has driven more than $170 million in spending with U.S.-based manufacturers and suppliers, strengthening America’s energy supply chains and supporting domestic energy deployment. The company’s operating and pre-operating projects currently support, or are expected to support, thousands of green energy jobs nationwide.iv
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i Since January 2016.
ii Data as of September 30, 2025. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
iii Data as of September 30, 2025. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
iv Data as of September 30, 2025, and includes both operating and pre-operating projects. Green jobs are calculated using The National Renewable Energy Laboratory (NREL), nrel.gov.