Altus Power, the largest commercial-scale provider of clean electric power, today announced the acquisition of a 3.4 MW solar project from Chaberton Energy, a Maryland-based national renewable energy project developer, which Altus Power will complete development of and then construct. Upon completion, the power generated by the asset, owned and operated by Altus and located in East New Market, Maryland, will deliver the benefits of clean, electric power to the local community, through Maryland’s Community Solar Energy Generating Systems (CSEGS) pilot program.
“We’re proud to be expanding our portfolio in Maryland and growing our Community Solar subscriber base in the state, enabling more households to access the benefits of clean, electric power,” said Abhi Parmar, Chief Investment Officer of Altus Power. “The Chaberton team’s expertise and vision was instrumental in bringing this project to fruition, and we look forward to future collaborations.”
Senake Gajamera, Chaberton Energy's Chief Financial Officer, said, "In Altus Power we have a partner who shares our goal of helping communities access local, affordable green energy. We're so proud to be working with Altus to put more clean power on the grid for Marylanders."
As part of the development of the project, more than three acres of land were placed under forest conservation and will be protected from non-agricultural development, and more than $2 million will be invested in grid and substation upgrades, resulting in better electrical reliability for Dorchester County and surrounding areas.
Upon completion, the clean electric power generated by this project is expected to benefit more than 380 households, significantly reducing carbon emissions and contributing to Altus Power’s commitment to nationwide carbon reduction. Altus Power’s distributed solar generation systems are at the core of its mission to support enterprises and individuals in achieving their sustainability goals.
As a pioneer in Community Solar, Altus Power serves more than 30,000 subscribers nationwide, providing homeowners and renters from diverse income brackets with the benefits of clean energy savings—without the need for individual solar installations. To learn more about how Altus Power is transforming community access to solar energy, visit https://www.altuspower.com/community-solar.
About Altus Power
Altus Power, based in Stamford, Conn., is the largest 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 www.altuspower.com to learn more.
About Chaberton Energy
Headquartered in Maryland, Chaberton Energy is a public benefit corporation focused on developing sustainable infrastructure and renewable energy projects for communities and businesses. Chaberton was named to the 2024 Inc. 5000 list of America’s fastest-growing private companies and ranks as the No. 1 fastest-growing community solar company, the No. 2 fastest-growing Maryland company, and the No. 34 fastest-growing company overall.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121713058/en/
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Jenny Volanakis
mediarelations@altuspower.com
