Commercial and industrial (C&I) solar developer Altus Power has signed a major strategic partnership with Trammell Crow Company (TCC), one of the largest commercial real estate developers in the US, to bring Altus Power’s clean power solutions to TCC’s real estate projects.
Under the terms of the multi-year strategic partnership, Altus Power will bring its solar PV products, battery energy storage systems (BESS) and electric-vehicle (EV) charging to TCC’s real estate portfolio.
The collaboration aims to deploy 300MW of rooftop solar across the US over the next three to four years, with battery storage capacity and electric-vehicle charging alongside. The initial focus will be 35 million sq. ft. of US industrial assets in TCC’s development pipeline.
“We are excited about this first-of-its-kind partnership to bring clean electrification to the nation’s largest commercial real estate development platform,” said Lars Norell, co-CEO of Altus Power, which has recently landed a supply agreement with Canada-headquartered solar manufacturer Heliene for 250MW of solar modules.
“This partnership underscores the significant opportunity that is available in the commercial and industrial (C&I) solar market, and we look forward to working with other real estate owners, developers and occupiers to accelerate their transition to a lower carbon footprint,” said Norell.
Commenting on observed trends in the solar industry at the turn of the year, PV Tech reported how residential and C&I solar in the US is becoming increasingly integrated with other verticals.
This has been illustrated by a number of recent acquisitions such as home security giant ADT buying Sunpro solar for US$825 million, Sunnova partnering up with security company Brinks Homes to cross sell its products and BayWa r.e. exploring the potential to team up with roofing company Beacon to offer solar and roofing services simultaneously.