Transwestern Partners With Altus Power to Explore Decarbonization Opportunities
November 08 2023 - 7:30AM
Business Wire
Efforts Focused on Industrial Real Estate
Assets in Southern California
Transwestern Investment Group (TIG®) and Altus Power, the
leading commercial-scale provider of clean electric power, today
announced an exclusive strategic partnership to explore the
development and construction of solar arrays and battery storage
solutions for a subset of TIG’s industrial real estate properties,
furthering Transwestern’s commitment to its stated ESG
objectives.
Through this partnership, which aligns with TIG’s pledge to
foster sustainable investing, the companies plan to evaluate
opportunities for solar projects across 24 industrial and logistics
properties totaling more than 8.2 million square feet. In addition
to the building-sited, locally generated solar power, Altus Power
and TIG will explore implementing battery storage and fleet
electric-vehicle charging infrastructure. In concert, these
initiatives aim to improve investors’ net operating income and make
the assets more attractive to existing and prospective tenants.
“Our partnership with Altus Power highlights our commitment to
deliver on sustainability objectives and drive value for our
investors as well as prospective tenants,” said Gary Jaye, Chief
Investment Officer of TIG. “As a market leader, Altus Power will
help us identify and implement solutions for our industrial assets
that are both environmentally sustainable and fiscally
responsible.”
“The United States is seeing huge growth in renewable energy,
and buildings are at the center of this clean energy revolution,”
said Lars Norell, Co-Founder and Co-CEO of Altus Power. “Through
our fully integrated business model, Altus will present
opportunities to streamline the deployment of clean energy
solutions across a portion of TIG’s growing industrial portfolio
while aiming to deliver savings on clean electric power, reducing
TIG’s overall carbon footprint and increasing the net operating
income of the portfolio.”
Altus Power recently developed an AI-powered comprehensive
software-as-a-service platform to deliver clean power usage
insights to clients as they strive to achieve ambitious net-zero
goals. TIG properties with new solar arrays would be among the
first to access the platform, allowing users to monitor savings
from each solar asset and measure carbon emitted.
About Altus Power
Altus Power, based in Stamford, Connecticut, is the leading
commercial-scale provider of clean electric power serving
commercial, industrial, public sector and Community Solar customers
with end-to-end solutions. Altus Power originates, develops, owns
and operates locally-sited solar generation, energy storage and
charging infrastructure across the nation. Visit www.altuspower.com
to learn more.
This document does not constitute an offer, solicitation or
recommendation to sell or an offer to buy any securities,
investment products or investment advisory services. Any offer or
solicitation will be made only pursuant to a confidential private
placement memorandum and subscription documents (the “Offering
Materials”) and will be subject to the terms and conditions
contained in such Offering Materials.
About Transwestern Investment Group
Transwestern Investment Group (TIG®), a real estate investment
adviser, seeks to provide value to institutional clients through
what we believe to be compelling, thematic investment opportunities
across property types and risk profiles within the United States.
Part of the Transwestern companies, we have sourced and executed
more than $7 billion of real estate investments to date in 26
markets.
Five dynamic, integrated companies make up the Transwestern
enterprise, giving us the perspective to think broadly, deeply and
creatively about commercial real estate. Through offices
nationwide, we positively impact the built environment and our
communities while fostering a work climate that champions career
vitality for all. Learn more at transwestern.com and
@Transwestern.
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version on businesswire.com: https://www.businesswire.com/news/home/20231108014120/en/
Media: Molly McMurtry twmediarelations@transwestern.com
Chris Shelton mediarelations@altuspower.com
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