10 Best Renewable Energy Penny Stocks to Invest In

7. Altus Power, Inc. (NYSE:AMPS)

Number of Hedge Fund Holders: 9

Stock Price as of November 22: $4.06

Altus Power, Inc. (NYSE:AMPS) is a leading provider of community solar power solutions, specializing in utilizing underutilized rooftop spaces and commercial and industrial properties to generate solar electricity. The company delivers cost-effective solar power to residential customers through its Community Solar program and serves over 25,000 subscribers across the United States. This program allows customers to benefit from renewable energy savings without needing to install their own solar panels.

In the third quarter that ended on September 30, Altus Power, Inc. (NYSE:AMPS) revenue increased 30% to $58.7 million compared to $45.1 million in Q3 2023,  driven by the growth of in portfolio and increased sales of renewable electricity to its customers. The company’s nationwide portfolio of operating assets surpassed 1 gigawatt. The company’s adjusted EBITDA also grew 27% year-over-year, driven by the growth of its portfolio, partially offset by increased operating and general and administrative expenses.

Altus Power, Inc. (NYSE:AMPS) announced the commissioning of three community solar photovoltaic (PV) parks in Maine with a combined capacity of 19.1 MW. The three new plants will generate electricity to meet the demand of more than 4,200 homes annually.