- July 14, 2021
- Posted by: Stratford Team
- Category: Business
Two of today’s hottest investing trends are coming together: clean energy and special-purpose acquisition companies. Recent merger announcements in the space show that SPACs could be an effective growth engine for some corners of the renewable energy industry that have lagged behind as the industry overall has boomed.
Altus Power, a commercial and industrial-scale solar company, announced a merger Tuesday with a SPAC sponsored by
CBRE Group,
CBRE -2.99%
giving Altus a market capitalization of $1.58 billion. The deal follows another solar-related SPAC announcement last week for concentrated solar power company Heliogen.
The kinds of renewable energy that investors are comfortable with—such as utility-scale solar and wind—are precisely the type of assets that already have hungry capital chasing them, whether yield-hungry…
