How CBRE plans to help landlords find clean energy
The global real estate firm has teamed up with Altus Power, the clean electrification company it plans to take public through a blank cheque company, to develop a tool to help landlords source local clean energy.
The tool will tap into CBRE’s data on more than 100bn sq ft of commercial real estate to identify “promising rooftops” for solar energy generation.
CBRE will combine satellite imagery with internal data to model building energy demand, potential power generation and identify opportunities for solar energy or battery storage use.
The companies said that the software will help commercial real estate owners and occupiers meet their energy needs while reducing their carbon footprints.
Julia Sears, chief digital officer at Altus Power, said: “Our partnership with CBRE is tremendous. The early success of our technology collaboration accelerates our ability to identify attractive opportunities for clients to deploy clean energy solutions at scale to deliver decarbonisation outcomes and reduce energy bills at no cost to those clients.”
Bill Bernabei, global head of business analytics in CBRE’s Global Workplace Solutions business, said: “Our vast trove of data, combined with Altus Power’s clean energy expertise and distribution network, provides a unique advantage to property owners and occupiers that are looking to drive down energy costs while lessening their impact on the environment.”
This summer, CBRE announced its intention to take Altus Power public through a special purpose acquisition company, CBRE Acquisition Holdings.
Expected to complete by the end of the year, a merger between CBRE’s blank cheque company and Altus Power would create a combined business valued at $1.6bn.