MetLife Funding Administration (MIM) has signed an settlement with DSD Renewables to put in a 2.2-MW/510 kWh photo voltaic + storage undertaking at Intersect, a campus-style workplace property in Irvine, California. The four-building rooftop and automotive cover photo voltaic undertaking will generate greater than 3.5 million kWh of unpolluted power yearly, producing roughly 74% of Intersect’s required power onsite. The battery system can retailer extra electrical energy generated and help the grid by lowering peak demand.
“We acknowledge the function buildings and accountable actual property investing can play in bettering workplaces and communities whereas positively impacting the setting,” stated Jim Landau, head of environmental, social & governance, Actual Property and griculture, MIM. “The Intersect photo voltaic undertaking advances our dedication to supporting and financing options that drive progress towards a low-carbon financial system, handle danger and create sustainable funding returns.”
Property house owners anticipate the brand new photo voltaic undertaking to be the most important of its type for an workplace campus in Orange County.
“Putting in photo voltaic on properties the place it makes monetary sense, matches completely with PGGM’s concentrate on sustainable funding initiatives,” stated Eugene Phillips, funding supervisor from PGGM’s Personal Actual Property division. “A low carbon constructing, with ensuing tenant advantages, will entice tenants and make the workplace campus futureproof – and can also be a constructing block in making our actual property portfolio extra impactful.”
Information merchandise from DSD Renewables
