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Trammell Crow Company (TCC), one of the largest commercial real estate developer, and Altus Power, Inc., a leading clean electrification company, announced a strategic partnership to bring Altus Power’s clean electrification solutions to TCC’s real estate development projects.
Under the terms of this multi-year strategic partnership, TCC will engage Altus Power to bring solar power generation, battery storage and electric-vehicle charging to its development portfolio.
The initial focus will be 35 million sq. ft. of U.S. industrial assets in TCC’s development pipeline. This partnership is expected to generate 300 MW of building-sited, locally generated solar power across the United States over the next three to four years, with battery storage capacity and electric-vehicle charging. TCC and Altus Power plan to expand the partnership to include other assets in the future.
“Our partnership with Altus Power will greatly accelerate the integration of clean energy into our properties and we expect it to meaningfully reduce our carbon footprint,” said Mike Lafitte, CEO of TCC. “This partnership is directly responsive to our capital partners and occupier clients who expect us to deliver sustainably built real estate.”
“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. “This partnership underscores the significant opportunity that is available in the commercial and industrial 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.”