Altus Power (AMPS) Evercore ISI 3rd Annual Global Clean Energy and Transition Technologies Summit summary

Market trends and demand drivers

• U.S. electricity demand is expected to increase by over 30% in the next decade, driven by AI, data centers, crypto mining, and manufacturing reshoring, supported by government policies like the CHIPS Act and Inflation Reduction Act.

• Electrification across sectors and the proliferation of EVs are major contributors to rising power needs.

• Solar energy is forecasted to be a significant contributor to meeting this demand, with commercial-scale solar positioned as a key growth area.

Business model and market positioning

• Focus on commercial and industrial (C&I) solar, leveraging declining component costs and rising retail power prices for attractive returns.

• Long-term power purchase agreements and community solar programs provide stable, contracted revenue streams.

• Scale enables operational leverage, risk mitigation, and domain expertise across 25 states and a diverse customer base.

Growth strategy and financial outlook

• Three-year forecast targets 20%-30% annual megawatt growth, $270M-$305M revenue, and $160M-$180M adjusted EBITDA by 2026, potentially doubling 2023 results.

• Growth driven by new asset development, acquisitions, and leveraging relationships with channel partners and real estate networks.

• Market fragmentation and higher interest rates are accelerating consolidation, creating acquisition opportunities.