CBRE Investment Management (CBRE IM), a real assets investment management firm, and Altus Power Inc. are building and operating a portfolio of rooftop community solar projects to provide renewable energy to residential customers and CBRE IM logistics tenants in Maryland.
Rooftop-based solar systems of up to approximately 20 MW will be located on the logistics facilities that are owned by CBRE IM’s funds. Power generated from these solar systems will be provided to both commercial tenants and residential customers. Thirty percent or more of the generated electricity will be allocated to low- and moderate-income residential customers in the state. Energy storage and electric vehicle charging may be added to these facilities in the future.
“Our collaboration with Altus Power will greatly advance our sustainability goals and support the transition to clean energy,” says Chuck Leitner, CEO of CBRE IM. “This initiative is an excellent example of how we use scale to make our portfolio more resilient, profitable and sustainable.”
“Altus Power has been serving public and private customers in Maryland with solar-generated electricity since 2011,” adds Lars Norell, co-CEO of Altus Power. “We are excited to expand our community solar portfolio in the state and to advance our relationship with our strategic partner, CBRE.”