CBRE Investment Management expands its solar, battery and EV footprint

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CBRE Investment Management sees a bright future in solar power as well as battery storage and electric vehicle charging and has announced a larger partnership with Altus Power.

Altus Power is a clean, utility-scale electrification company seeking decarbonization and resilience solutions from these three modes.

CBRE Investment Management’s direct logistics portfolio spans 17 countries, with over 600 assets, 200 million square feet and $30.2 billion in assets under management.

Chuck Leitner, managing director of CBRE Investment Management, said projects will be deployed “where viable”.

The solar panels, battery storage and electric vehicle charging stations will be located on logistics assets owned by CBRE Investment Management, and the solar panels will supply electricity to residential users in the respective communities and tenants of the logistics facilities where they find themselves.

Maryland, one of the first beneficiaries

CBRE Investment Management and Altus Power currently operate a portfolio of community rooftop solar projects at logistics facilities in Maryland. It will also provide renewable energy via solar panels to 5,700 residential customers in Maryland at locations that have not been determined.

CBRE Investment Management embarked on clean energy initiatives approximately two years ago and its direct logistics assets grew more than 34% from $22.5 billion to $30.2 billion, while that the firm’s comprehensive portfolio of real assets now stands at an all-time high of $146.9 billion.

Trammell Crow Company, a subsidiary of CBRE, is currently working with Altus on its industrial assets in the United States.

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