Four New York Solar Projects Support State Clean Energy Goals Through NYSERDA Contracts

Altus Power, a leading commercial-scale power company, today announced the acquisition of 105 megawatts of in-construction solar assets from Cordelio Power -- a strategic expansion that underscores Altus Power’s focus on scaling its portfolio through the purchase of high-quality, late-stage assets from development partners seeking to divest non-core assets or recycle capital into new investments. All four ground-mounted projects, located in New York State, reinforce Altus Power’s role as a preferred long-term partner in delivering reliable, affordable energy that supports grid stability and economic growth statewide.

The four projects have entered into 20-year Renewable Energy Standard (RES) contracts with the New York State Energy Research and Development Authority (NYSERDA). This partnership provides a stable, long-term revenue profile to support Altus’ investment while delivering committed clean energy to the State of New York.

“New York continues to demonstrate how smart, long-term policy frameworks can unlock private investment and deliver power at scale,” said Matt Marlow, Co-Head, Investment & Structured Finance, Altus Power. “Working closely with Cordelio, our teams executed a seamless acquisition of approved, in-progress projects, demonstrating our ability to step in and advance development efficiently to deliver reliable, affordable power in support of NYSERDA’s mission.”

Altus Power continues to expand its footprint in the Empire State, already its largest market, through the ownership and operation of 65 projects totaling approximately 265 MWs across New York. To date, the company has invested hundreds of millions in the state, underscoring its long-term commitment to delivering reliable, affordable power while serving as a trusted partner to local communities, customers and policymakers.

“These projects reflect our focus on developing high-quality assets that deliver long-term value,” said Nick Karambelas, Chief Development Officer, at Cordelio Power. “Altus Power’s operational expertise and long-term ownership approach make them a strong partner to take these projects forward. We’re proud of the work our team has done to advance these projects and look forward to seeing them contribute to New York’s clean energy future.”

Through NYSERDA’s Renewable Energy Standard program, New York has established a long-term, market-based framework that supports renewable energy deployment, provides price certainty for clean energy generation, and advances the state’s nation-leading climate goals under the Climate Leadership and Community Protection Act. The program also helps drive local economic development and supports the creation of clean energy jobs across the state.

Altus Power owns and operates more than 1.3 gigawatts of commercial-scale assets, including community solar assets, across more than 600 projects in 30 states and the District of Columbia, demonstrating its leadership in distributed generation and its ability to manage and scale diverse portfolios nationwide.

About Altus Power

Altus Power is a leading commercial-scale power company, delivering reliable, cost-effective solar electricity across 30 states and the District of Columbia. With more than 1.3 GW of solar generation assets, Altus Power owns and operates a robust network that serves Fortune 1000 companies, municipalities, schools and households. As a portfolio company of TPG Rise Climate Transition Infrastructure, Altus Power leverages this strategic partnership to scale operations and expand access to affordable, locally-sourced renewable power nationwide. By combining deep market expertise with innovative financing, Altus Power sets the standard for commercial-scale power generation while stabilizing electricity costs and driving the transition to a cleaner, brighter future.

About Cordelio Power

Cordelio is an independent power producer that develops, builds and operates wind, energy storage and solar facilities. Cordelio manages a 1,860 MW operating portfolio across the United States and Canada and a US development growth pipeline of over 18,000 MW of projects. We strive to work with all of our stakeholders in an efficient, safe, and environmentally responsible manner. Cordelio is wholly owned by Canada Pension Plan Investment Board.

Forward Looking Statements & Information

Certain information contained in this news release constitutes forward-looking information or forward-looking statements (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward‐looking statements. Forward‐looking statements typically contain words such as “anticipate”, “believe”, “confirms”, “continuous”, “estimate”, “expect”, “may”, “plan”, “project”, “should”, “will”, or similar words suggesting future outcomes, and include, without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward-looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the actual outcomes of such events to differ from Cordelio’s expectation as of the date hereof. Whether forward-looking statements ultimately prove to be accurate will depend on factors outside of the control of Cordelio. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward-looking statements. Forward-looking statements contained in this news release are made as at the date of this news release and Cordelio disclaims any intent or obligation to update or to revise any of the included forward-looking statements.

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Working closely with Cordelio, our teams executed a seamless acquisition of approved, in-progress projects, demonstrating our ability to step in and advance development efficiently to deliver reliable, affordable power in support of NYSERDA’s mission.