CBRE Investment Management sees a bright future in solar power along with battery storage and electric vehicle charging and has announced a greater partnership with Altus Power.
Altus Power is a commercial-scale clean electrification company that seeks solutions to decarbonization and resilience from these three modes.
CBRE Investment Management’s direct logistics portfolio spans 17 countries, with more than 600 assets, 200 million square feet and $30.2 billion AUM.
Chuck Leitner, chief executive officer of CBRE Investment Management said projects will be deployed “where viable.”
The solar panels, battery storage and EV charging stations will be located on logistics assets that CBRE Investment Management owns, and the solar panels will provide power for both residential users in the respective communities and the tenants of the logistics facilities where they are located.
Maryland an Early Beneficiary
CBRE Investment Management and Altus Power are currently operating a portfolio of rooftop community solar projects on 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 about two years ago and its direct logistics assets have increased by more than 34% from $22.5 billion to $30.2 billion, while the firm’s full real assets portfolio now stands at a record high of $146.9 billion.
Trammell Crow Company, a CBRE subsidiary, is currently working with Altus on its industrial assets in the US.