Trammel Crow Industrial Lights Up Rooftop Solar with Altus Power

As reported by the Wall Street Journal, solar-power company Altus Power and commercial real-estate developer Trammell Crow have reached a $600 million deal to install solar panels on 35 million square feet (3,251,606 sq m) of U.S. industrial property by 2026. The deal will create 300 megawatts of capacity and is Altus’ largest to date.

Trammell Crow chief operating officer Adam Weers told the Journal he thought of solar as a “client service,” lowering the carbon footprint at properties to attract ESG-conscious businesses. Weers is also a global governing trustee of ULI.

Once the solar panels are installed, Altus will sell the power to Trammell’s tenants at a rate discounted from the typical electrical grid price. Trammell Crow will also collect rent from Altus.

Both Altus and Trammel Crow are subsidiaries of CBRE.