June 7 (Renewables Now) - US real estate investment and development firm Crow Holdings announced the launching of a new renewables-focused unit to develop solar energy and battery storage projects across the country, saying that it has already marked off potential location targets.
Crow Holdings Renewables will initially focus on the entitlement and development of community solar projects averaging 5 MW with battery storage, as well as mid-sized, utility-scale projects of about 25 MW, a press release said on Tuesday.
The new business will be able to take advantage of an extensive portfolio of industrial properties, with the potential to add solar to millions of square feet of industrial rooftops. It has already identified and is pursuing suitable project locations in California, New Jersey, Maryland, and Illinois, with other markets to follow.
“We’ve had tremendous interest from our partners and industrial tenants in providing lower-cost energy, and we have an opportunity to help meet the energy needs of hundreds of businesses and thousands of residential customers across the country,” said Laurence Pelosi, senior managing director at Crow Holdings and co-head of the new unit.