Altus Power SPAC Presentation Deck
Financial Forecast
$ in millions
Solar systems (MW)
EV Chargers Installed (# of Plugs)
Energy Storage Systems (MWh)
Revenue
Gross Margin / Asset EBITDA (%)
Gross Margin / Asset EBITDA
(-) Corporate SG&A
EBITDA
EBITDA Margin (%)
Net Cash Flow From Operating Assets
(-) Total Growth CapEx
(+) Tax Equity Proceeds
(+) Debt Financing Proceeds
Equity Capital Required to Fund Growth Plan
2020
240
0
$45
74%
$33
(8)
$25
56%
$9
2021E
410
0
2
$74
77%
$56
(19)
$38
51%
$0
(417)
33
290
($93)
2022E
710
100
20
$134
79%
$106
(23)
$83
62%
$24
(865)
91
637
($114)
CBRE
2023E
1,185
400
120
$222
81%
$180
(27)
$153
69%
$44
(909)
91
735
($39)
The proceeds from this transaction are expected to fully-fund the forecasted growth¹
Acquisition
Holdings
ALTUS POWER
2024E
1,685
900
270
$336
80%
$269
(42)
$228
68%
$60
(1,165)
122
879
($104)
Note: Represents calendar figures. Altus Power is not expected to be a tax payer through projection period based on current balance of net operating losses. EBITDA excludes non-recurring expenses such as non-recurring transaction costs. Values may not tie due to rounding.
Assumes no redemptions (or aggregate redemptions of less than the backstopped amount) and full repayment of the Altus Power Pref.
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