Altus, Macquarie team up in clean energy

Altus Power America Management and Macquarie Group have launched a programme to finance up to $100m in solar and wind projects in the US.

Altus Power America Management, a Connecticut-based private equity firm focusing on clean energy, has partnered with Australia's Macquarie Group in launching a Clean Energy Land Programme that will provide up to $100 million in financing for solar and wind projects in the US.

The programme will allow funds to be deployed more quickly and more efficiently towards relevant projects, by helping solar and wind developers acquire lands under any projects in development and to monetise any existing portfolios of similar assets, Altus said in a statement.

“This arrangement combines the provision of efficient asset-based financing with a strong track record in project sourcing and execution,” said Matthew Lancaster, senior managing director and head of North American lending for Macquarie Corporate and Asset Finance referring to the partnership with Altus.

The announcement comes just one month after Altus partnered with RGS Energy, a Colorado-based solar energy company, launching RGS Energy Asset Management, a joint venture that will develop, finance, and manage up to $150 million of commercial solar projects.

In addition to investing, Altus also owns and operates clean energy projects. The firm serves commercial and public sector clients.

Sydney-based Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, the group has more than 70 offices worldwide. As of September 30, 2013, Macquarie had more than $359 billion in assets under management.