32 MW Community Solar Projects Launch, 5,000 Households to Receive Electricity Discounts
Based in Stamford, Connecticut, energy company Altus Power announced on July 26 that it had completed its first collaboration with New Leaf Energy, acquiring five community solar projects under development in Virginia with a total capacity of 32 megawatts (MW). These projects will be integrated into Appalachian Power Company’s (APCo) shared solar program and are expected to begin operations after July 2026, delivering clean power to approximately 5,000 households and businesses while lowering electricity costs through solar bill credits.
Abhi Parmar, Chief Investment Officer of Altus Power, stated that Virginia is actively protecting consumers from electricity price fluctuations by expanding clean energy supply, and APCo’s shared solar program is a key pathway to achieving this goal. He noted that these projects will enhance local grid resilience while providing users with more stable and affordable energy options.
Kate Vann, an executive at New Leaf Energy, emphasized that this collaboration demonstrates the rapid scalability of community solar projects with strong development and execution capabilities. She added that the partnership will bring more diverse clean energy options to Virginia communities and set a benchmark for future similar projects.
Community Solar Model Expands to Virginia, First Collaboration Targets New Market
The community solar model allows users to benefit from clean energy discounts on their utility bills without installing solar panels themselves. Altus Power currently serves over 40,000 community solar subscribers nationwide, covering households and businesses of varying income levels. This acquisition not only marks Altus Power’s first foray into Virginia’s community solar market but also its first collaboration with New Leaf Energy.