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CBRE Investment Management (“CBRE IM”), a leading real assets investment management firm, and Altus Power, Inc. (NYSE: AMPS) (“Altus Power”), a leading clean electrification company, announced plans to build and operate a portfolio of rooftop community solar projects to provide renewable energy to residential customers and CBRE IM logistics tenants in Maryland. These projects are expected to produce savings for approximately 5,700 residential customers in Maryland. CBRE IM and Altus Power each have a long-standing presence in Maryland and together are proud to bring the benefits of community solar to a broader segment of residential customers within the state. Rooftop-based solar systems of up to approximately 20MW will be located on the logistics facilities that are owned by CBRE IM’s funds. Power generated from these solar systems is to be provided to both commercial tenants and residential customers. Thirty percent or more of the generated electricity is also to 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,” said Chuck Leitner, chief executive officer 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,” said 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.” |
