Altus Power (NYSE: AMPS), the largest commercial-scale provider of clean energy, has announced that its Board of Directors is conducting a formal review of strategic alternatives to enhance shareholder value and improve capital access. This comprehensive review aims to position the company for long-term success in a growing industry with significant opportunities.
“Our goal is to ensure that Altus Power is structured for sustained success in a high-growth industry with strong market potential,” said CEO Gregg Felton.
Christine Detrick, Board Chair, highlighted the gap between the company’s share price and its intrinsic value, prompting the Board and management to explore alternative ownership structures to maximize value for stakeholders.
As part of this process, Altus Power reaffirmed its fiscal year 2024 guidance and retained Moelis & Company LLC and Latham & Watkins to assist with the review, expected to conclude by mid-2025. The company will not comment further unless a specific transaction is approved or additional disclosure is deemed necessary.
While there is no guarantee of any particular outcome, this strategic review reflects the company’s commitment to unlocking its full potential in the clean energy market.
