Designed to bring RGS Energy into the arena of energy asset ownership, the JV will offer power purchase agreements and other financial solutions to customers. It allows the partners to jointly manage the available pool of capital.
In addition, the JV also allows RGS Energy to integrate credit qualification and capital sourcing into its core operations.
Altus Power America Management managing partner Lars Norell said that the joint venture is expected to allow the company to identify attractive solar power projects across the country and efficiently deploy capital throughout the US solar market.
"We anticipate that this initial deployment of $150m of capital will be the first of many as we partner with RGS Energy, a leading solar company in the country, to create and enhance value for both organizations," Norell added.
The joint venture partners expect the first fully financed projects to be operational as early as the second quarter of 2014.
