CBRE, Altus Power Collaborate on Additional Community Solar Projects in Maryland

Altus Power Inc., a real-estate investment management company, and CBRE Investment Management are building and operating a portfolio for rooftop solar projects in Maryland to provide renewable electricity to residential customers as well as CBRE IM logistics tenants.

Rooftop-based solar systems of up to approximately 20 MW will be located on the logistics facilities that are owned by CBRE IM’s funds. These solar systems will generate electricity for both residential and commercial customers. The state will allocate at least thirty percent of the electricity generated to residential customers with low- or moderate incomes. These facilities may include energy storage and electric vehicle charging.

“Our collaboration with Altus Power will greatly advance our sustainability goals and support the transition to clean energy,” says Chuck Leitner, CEO of CBRE IM. “This initiative is an excellent example of how we use scale to make our portfolio more resilient, profitable and sustainable.”

“Altus Power has been serving public and private customers in Maryland with solar-generated electricity since 2011,” adds Lars Norell, co-CEO of Altus Power. “We are excited to expand our community solar portfolio in the state and to advance our relationship with our strategic partner, CBRE.”