DALLAS & STAMFORD, Conn.--(BUSINESS WIRE)--Mar. 29, 2022--
Trammell Crow Company (TCC), the nation’s largest commercial real estate developer, and Altus Power, Inc. (NYSE: AMPS), a leading clean electrification company, today announced a strategic partnership to bring Altus Power’s clean electrification solutions to TCC’s real estate development projects.
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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.”
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is the nation’s largest commercial real estate developer. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of December 31, 2021, TCC had $18.5 billion of projects in process and $9.3 billion in its pipeline. It employs more than 675 professionals in the United States and Europe.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit www.TrammellCrow.com.
About Altus Power
Altus Power, based in Stamford, Connecticut, is the nation's premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit altuspower.com to learn more.
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Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2022, as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
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Trammell Crow Contacts
Altus Power Contacts
Chris Shelton, Head of IR
Caldwell Bailey, ICR, Inc.
Source: Altus Power, Inc.