Excessive Road Logistics has introduced a strategic partnership with Altus Energy to deploy photo voltaic arrays at Excessive Road’s 144 belongings encompassing greater than 18M SF throughout the US.
Along with building-sited, domestically generated solar energy arrays on the rooftops of Excessive Road’s logistics services, the companions additionally will set up battery storage and electric-vehicle charging infrastructure throughout the portfolio.
The upgrades will allow Excessive Road buildings will likely be built-in in Altus Carbon Dashboard, an Saas-platform that can monitor financial savings from every particular person photo voltaic asset in addition to measure carbon emitted throughout the portfolio, monitoring ESG benchmarks, together with GRESB requirements.
In a press release, Excessive Road CEO Bob Chagares stated the corporate’s partnership with Altus Energy will speed up the achievement of Excessive Road’s sustainability aims. The agency has set a objective of reaching internet zero by 2050.
In 2021, Connecticut-based Altus Energy merged with a special-purpose acquisition firm (SPAC) sponsored by CBRE, a deal valued at $1.58B. Launched in 2009, Altus stated in 2022 earnings assertion that the agency presently has installations in 24 states.
The take care of CBRE Acquisitions Holdings (CBAH) allowed Altus Energy to turn out to be a public firm listed on the New York Inventory Change. Altus obtained greater than $636M in proceeds from the deal, which it deployed to develop its community of photo voltaic installations.
Altus buildings its offers to allow the agency to promote the excess energy generated by its installations.
In response to a report from the Photo voltaic Vitality Industries Affiliation, the US photo voltaic power business put in a file 6.1 gigawatts of solar energy capability in Q1 2023 as provide chain challenges abated and delayed photo voltaic installations moved ahead. One other 16 GW of module manufacturing services are beneath building, as of the tip of the primary quarter.
Attributable to funding of renewable power tasks within the Inflation Discount Act, photo voltaic installations are anticipated to triple within the subsequent 5 years, bringing complete put in photo voltaic capability to 370 GW by 2026.
In January, Altus acquired the photo voltaic belongings of True Inexperienced Capital Administration, a portfolio encompassing 220 megawatts, in an acquisition valued at $293M. The belongings are positioned primarily in 4 states, California, New York, New Jersey and Massachusetts.
In December, 2020, KKR acquired a 9.7M SF industrial portfolio from Excessive Road Logistics positioned in infill markets throughout the US.
