Altus Power has acquired a 105 MWdc solar portfolio in the US from Cordelio Power, adding four ground-mounted, in-construction projects in New York. The state is already Altus Power’s largest market, and this transaction further concentrates capital where execution risk is lowest.

The key point is not capacity. It is contract structure. All four projects are backed by 20-year Renewable Energy Standard (RES) contracts with NYSERDA. That eliminates merchant exposure and locks in long-duration cash flows before commercial operations begin.

This is a clean example of why late-stage, policy-backed assets continue to clear in competitive processes. Developers like Cordelio can recycle capital out of non-core projects, while buyers like Altus Power step into assets that are already permitted, contracted, and under construction. There is no development optionality being underwritten here.

Commercially, the deal reinforces that New York remains one of the few markets where state offtake still supports bankable pricing and predictable exits. Long-dated contracts matter more than ever as financing tightens and buyers avoid open-ended exposure.

The signal is straightforward. Capital is concentrating around de-risked, contracted portfolios in regulated markets. Assets without firm offtake are increasingly sidelined, while projects with execution certainty continue to trade.

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